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 also from inspections by the supervision department of Central Bank of Kenya.
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.
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.
This is a Management Committee that is chaired by the Managing Director. This Committee monitors the liquidity position of the Bank ensuring compliance to statutory liquidity ratio, cash reserve ratio and foreign exchange exposure as per the prudential guidelines of the Central Bank of Kenya. The Committee decides on investments in various securities to maximize returns. It also analyses the interest rate risk and fixes the interest rates in line with market trends.
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.
The shareholders’ role is to appoint the Board of Directors and independent auditors. They also ensure that the Board adheres to efficient and effective governance.
The Strategy Committee is headed by a Non-Executive Director. 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.
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
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.
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.
The HR and Nomination Committee is headed by a Non-Executive Director. The Committee is responsible for providing training and development opportunities for Senior Management staff that relate to performance in order to achieve organizational and individual needs. The Committee is also responsible for the regular review and improvement of human resource structures and processes in line with the Board .The Committee was set up in 2019.
Foreign (7) 1.85%
Local (28) 5.67%
|Shareholders’ Name||% Of Share Holding|
|Africinvest Azure SPV||24.20%|
|Prime Capital Holdings Ltd||14.38%|
|Prime Trustees Ltd||8.02%|
|Capital Nominees Ltd||8.02%|
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.
The Bank publishes its results every quarter in the local newspapers as per the Prudential Guidelines of Central Bank of Kenya. Financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and the requirements of all relevant statutes, rules and regulations.