Page 42 - Stanbic Bank IR 2024

40 EXECUTING OUR STRATEGY | Our Corporate Governance Principles

PRINCIPLE 4 (continued)

Access to and Flow of
Information PRINCIPLE 5

Directors have unrestricted access to the Bank’s
executive management and company information,
and the resources required to carry out their duties
and responsibilities. This provision is clearly outlined Reporting
in the Board of Directors Mandate. Further, any
member of the Board has the right to engage with the The Board ensures that reports
Company Secretary or the Board Chair to request for issued by the Bank enable
specific matters to be included in the agenda. For any
matters where the Board seeks to engage external stakeholders to make informed
professional or specialist advice, the Board may do so assessments of the Bank’s
at the expense of the Bank, as provided by the Policy
for Obtaining Independent Professional Advice by performance, and its short, medium,
Directors. and long-term prospects.
The Bank utilises a secure board meeting The Board acknowledges its responsibility over the
management system for distribution of board papers. integrity of external reports issued and takes into
Board packs are loaded onto the system at least 10 account statutory and regulatory requirements and
days before the meeting to provide the directors best practice when reviewing them.
adequate time to study the material in preparation of
engagements at the meetings. The Bank has always produced an annual report that
provides a report on the Bank’s performance and its
future prospects for use by its various stakeholders.
For the year ending 31 December 2024, the Bank has
produced an Integrated Report as well as a
Conflict of Interest Sustainability Report. These two new reports, as well
as all other reports are available on the Bank’s
Pursuant to their fiduciary duties, members of the website.
Board are committed to acting in the best interest of
the Bank in good faith and without undue personal This Integrated Report includes the Bank’s Annual
conflict. All Board decisions are consistently based on Financial Statements for the year ended 31
ethical foundations in line with the Bank’s values. The December 2024. The Board has reviewed the facts
Board has therefore set in place processes to manage and assumptions on which the financial statements
conflicts of interests as and when they arise. were prepared and relied; and based on these, the
Board views the Bank as a going concern for the
Before assumption of office, directors declare their foreseeable future.
professional and business interests to the Board, and
this declaration is continuously reviewed and updated
where there are changes. Further, on an annual basis,
directors complete their declaration of interest forms,
a process driven by the Company Secretary. The
Board is aware of directors’ outside commitments
and how these can affect their ability to perform their
duties. In the current year, the board was satisfied
that directors allocated sufficient time to enable them
to discharge their responsibilities effectively.

At the beginning of each meeting all members are
required to declare any conflicts of interest they have
in respect of matters on the agenda. Any such IMAGE
conflicts are proactively managed, as determined by
the Board and subject to legal provisions. Where
conflicts have been identified, directors recuse
themselves from the meeting when the board
considers any matters in which they may be
conflicted.

The Company Secretary maintains a register of
directors’ interests.