Corporate Governance

Audit Committee

The Audit Committee is chaired by a Non-Executive Director. The committee reviews all areas affecting operations of the bank. In addition, the committee deliberates on the significant findings arising from internal and external auditors and from inspections by the supervision department of Central Bank of Kenya.

Risk and Compliance Committee

The Risk and Compliance Committee is chaired by a Non-Executive Director. The Committee reviews the risk and compliance reports presented to it by the respective departments. It also reviews the observations given in the report and recommends remedial measures wherever necessary.

Executive Committee

The Executive Committee is chaired by the Executive Director. The Committee reviews implementation of various projects and approves policies relating to operational areas. The Committee also ensures adherence to the strategic plan approved by the Board.

Credit Committee

The Credit Committee is chaired by a Non-Executive Director. The Committee provides direction to credit management from a credit strategy perspective. They oversee credit portfolios as well as terms & conditions for all credit facilities granted by sanctioning authorities within their delegation powers and ratify them. The Committee grants facilities falling under the jurisdiction of the Committee and recommends proposals beyond the power of the Committee to the Board for approval.

Shareholders' Responsibilities

The shareholders’ role is to appoint the Board of Directors and independent auditors. The role of the shareholders is to ensure that the Board is accountable for effective and efficient governance.

Employees

The bank adheres to the banking code of ethics, which requires all employees to conduct business with the highest standards of personal and corporate integrity. Each member of staff is required to sign a declaration of secrecy. The bank encourages dialogue and participation from all employees through staff meetings, which are held every month.

IT Committee

The IT Committee is chaired by a Non-Executive Director. The committee is responsible for recommending IT strategies to the bank in light of the changing technology and external factors. In addition, they as well as formulating IT policies that uphold effective use of available IT resources. The committee also monitors and reviews IT projects and provides guidance to the management. The committee is responsible for approving the most effective mechanisms for supplying IT facilities and infrastructures needed to deliver the business requirements as per the bank’s strategy.

Strategy Committee

A Non-Executive Director heads the Strategy Committee. The committee’s objectives are to discuss, review and recommend to the Board the overall strategy and changes thereto including the business plan and to adopt appropriate business strategies. They also approve annual budgets, capital raising plans, asset acquisitions and disposals, incurrence of overhead or capital expenditures, any re-organizational changes and other strategy related matters.

Debt Management Committee

This Committee is chaired by a Non-Executive Director, whose responsibilities are to periodically review and assess the health of the bank’s credit portfolio and to take remedial measures for recovery and to ensure its adherence to ensure NPA is kept at a minimum.

Operations Committee

The Operations Committee is a Management Committee chaired by the Chief Operating Officer. The Committee is charged with evaluating the bank’s technical operational requirements in line with the ever changing customer needs. They review various operational procedures of the bank, deciding on changes to be effected to improve operational efficiency to improve service delivery while minimizing manual procedure.