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Governing Bodies

BOARD OF THE GENERAL MEETING

The company’s supreme body. It meets annually and has the following responsibilities:

– Deliberating on the balance sheet, report of the board of directors and supervisory board for each year;
– Approving the accounts for each year;- Deliberating on the appropriation of profits.

Members
Hitesh Anadkat – Chairman of the Meeting

SUPERVISORY BOARD

The Supervisory Board is the body responsible for overseeing the activity of the Board of Directors within the scope of the management of the company’s business and has the following objectives:

– Supervising the acts of directors and checking their compliance with legal and statutory duties
– Reviewing and commenting on the annual report of the board of directors and the financial statements for each year
– Analysing, at least every three months, the balance sheet and other accounting statements prepared by the company.

Members
Andreia Monteiro Durão – Chairwoman of the Supervisory Board;
Agness Jazza – Member;
John Michael O’Neill – Member

Committees

RISK COMMITTEE
The Risk Committee is a subcommittee of the Board of Directors with three members, which meets every three months and has the following objectives:

– Supervising the Bank’s risk governance structure
– Supervising the Bank’s risk tolerance, identifying potential risks and volatility of the Bank vis-à-vis its exposure;
– Assisting the Board of Directors in matters relating to strategy and risk management policies;
– Capital, liquidity, credit and market risk management
– Planning of actions to improve and mitigate identified risks;
– Development of internal control systems
– Development of policies and procedures for risk monitoring, and prudential supervision
– Monitoring compliance with laws and regulations.

Members
Carla Timóteo – Chairwoman
Dheeraj Dikshit – Member
Carlos Henriques – Member

CREDIT COMMITTEE
The Credit Committee is a subcommittee of the Board of Directors (CA), which reports directly to it. It is composed of three (3) members, who meet every three months, with the responsibility of supporting the CA in the performance of its duties in order to ensure that credit transactions are carried out in accordance with the internal policies and regulatory standards in force in Mozambique. This committee has overall responsibility for assessing the quality of the loan portfolio (including financial credits, unsecured loans, collaterals, etc.). Its specific responsibilities include:

– Ratifying the terms and conditions of all the credit facilities approved by the executive management
– Approving all credit facilities which exceed the limits set for executive management decisions
– Monitoring irregular loans and the recovery of non-performing loans
– Deciding on appropriate levels of portfolio provisioning, where necessary.

Members:
Carlos Henriques – Chairman
Dheeraj Dikshit – Member
Kobus Louw – Member

AUDIT COMMITTEE
The Audit Committee is a subcommittee of the Board of Directors with three members, who meet every three months, being responsible for assisting the CA in the performance of the following tasks:

– Guaranteeing the integrity of the financial statements
– Compliance with regulatory requirements
– Internal control system for managing the risks inherent to the Bank’s operations
– External and internal audit performance.

Members
Bantwal Prabhu – Chairman
Vijay Kantaria – Member
José Caldeira – Member

REMUNERATION COMMITTEE
This is a subcommittee of the Board of Directors which meets every four months, being responsible for appointing people for managerial positions and approving remuneration conditions. The Committee also approves all the human resources management policies and strategies.

Members
Hitesh Anadkat – Chairman
Vijay Kantaria – Member

Management Committees

ASSET – LIABILITY COMMITTEE (ALCO)
The Committee meets once a month and reports directly to the Managing Director. The main objective of the ALCO is to assess the balance sheet in terms of maturity profile, funding cost and exposure to liquidity risk. The ALCO seeks to manage risks in order to minimise the volatility of the net interest income and to protect the bank’s economic value in the long term. The committee also monitors the bank’s capital adequacy. The main responsibilities of the ALCO include:

– Defining guidelines for setting the prices of assets and liabilities
– Establishing liquidity, exchange rate and interest rate risk limits
– Developing a contingency plan to address scenarios of liquidity crisis (funding).

MANAGEMENT COMMITTEE (MANCO)
The Committee meets once a month and reports directly to the Managing Director. The management committee is responsible for monitoring the developments in the bank’s activity, its main constraints, challenges and opportunities, acting as an important forum for managing the bank’s affairs.

LOCAL RISK COMMITTEE
The Committee meets once a month and reports directly to the Managing Director. The main responsibilities of the risk committee are the following:

– Identifying, assessing, measuring and reporting the institution’s risks (credit risk, operational risk, compliance, reputation and other risks);
– Reviewing the Bank’s strategic risk management.

LOCAL CREDIT COMMITTEE
This Committee meets once a month and reports to the Managing Director. The Credit Committee is responsible for monitoring the evolution of the Bank’s portfolio, main constraints, challenges and opportunities and analysing credit proposals submitted for approval.

PRICING COMMITTEE
This Committee meets once a quarter and reports to the Managing Director. The Pricing Committee is responsible for following up on new market trends, as well as ensuring that the Bank’s prices are applied in line with its strategy. It is also responsible for approving new products, as well as ensuring that all pricing regulations are duly complied with.