Page 40 - Stanbic Bank IR 2024

38 EXECUTING OUR STRATEGY | Our Corporate Governance Principles

PRINCIPLE 3

Responsible Corporate Citizenship
The Board ensures that the Bank is and is seen to be a responsible corporate citizen.

The Bank’s strategy, purpose and conduct align with the principles of being a good corporate citizen. In agreeing the
Bank’s strategy, the board considers the social, economic, and natural environments in which the Bank operates. It
considers a full range of issues that influence the sustainability of the Bank’s business, and which create value over the
long term. As an African business, the Bank understands the challenges and benefits of doing business in Africa and owes
its existence to the people and societies within which it operates.

The Bank is committed therefore not only to the promotion of economic development but also to the strengthening of
civil society and human well-being.

The Bank concentrates its social investment expenditure in defined focus areas in order to make the greatest impact.
These areas of focus are subject to annual revision as the country’s socioeconomic needs change.

As a member of the Standard Bank Group, the Bank shares in the Group’s commitment to sustainable
development and ethical business practice is premised on the belief that the only way to grow shareholder
value and manage business risk over the long term is to do our best to meet the needs of all our
stakeholders. As such we continue to manage the Group’s non-financial impacts and contributions in a
balanced and considered manner – seeking to align the interests and expectations of all our stakeholders in
a way that unites commercial opportunity with social and environmental responsibility.
It is the policy of the Group to set aside a considerable proportion of its after-tax profits for community
development and support. Social and environmental responsibility remains an important part of the Group’s
culture.
The Bank’s Sustainability Report provides further details on this.