Financial Statements 2011 - Investing In Africa

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Statement On Corporate Governance (Continued) BOARD & BOARD COMMITTEES MEMBERSHIP AND ATTENDANCE RECORD - 2011 Director Classification Designation Board Audit Credit Risk Human Executive Strategy Risk J P M Ndegwa Non-executive Chairman Board F M Mbiru Non-executive Chairman Credit Risk Committee Membership √ √ Attendance 5/5 1/4 1/1 Membership √ √ √ √ √ √ Attendance 5/5 4/4 10/10 2/2 1/1 3/3 J W Macharia Executive Group Managing Director Membership √ √ √ √ √ √ Attendance 5/5 4/4 10/10 2/2 4/4 1/1 3/3 G A Maina Non-executive Chairman Risk Management Commmitee F N Mwanzia Non-executive Chairman Audit Committee A S M Ndegwa Non-executive Chairman Evecutive Committee I Ochola-Wilson Non-executive Chairman Human Resources and Compensation Committee Membership √ √ √ √ Attendance 5/5 4/4 1/1 3/3 Membership √ √ √ √ Attendance 5/5 4/4 8/10 1/1 Membership √ √ √ √ √ √ Attendance 5/5 1/4 9/10 2/2 4/4 1/1 Membership √ √ √ √ √ Attendance 5/5 3/4 2/2 1/1 2/3 M L Somen Non-executive Membership √ √ √ √ Attendance 5/5 9/10 4/4 1/1 P V Shah Non-executive Membership √ √ √ Attendance 5/5 9/10 1/1 A Dodd Executive Membership √ √ √ √ √ √ Attendance 5/5 4/4 10/10 2/2 4/4 1/1 3/3 Notes: √ - Member of respective committee • When a director did not attend a Board or Board Committee meeting, an acceptable apology had been received by the Board Chairman or Chairman of the respective Board Committee in advance of the scheduled meeting. • The Chairman attended one meeting of the Executive Committee by invitation. • The Group Managing Director and the Executive Director are not members of the Audit Committee but attend by invitation. • A S M Ndegwa stepped down as a member of both the Audit and the Risk Management Committees with effect from 1 March 2011. • The Nominations Committee did not hold a formal meeting during the year. 26 • NIC Bank Limited • Annual Report & Financial Statements 2011
Sustainability Statement 2011 As NIC Bank Group, we consistently take cognizance of the fact that our sustainability and success is dependent upon the environment and the communities in which we operate. It remains our Group policy, therefore, to ensure that our activities meet and exceed the social, economic and environmental expectations of our stakeholders. The Group primarily targets initiatives geared towards the environment, education and financial literacy, emerging needs and sports. This report on the performance of NIC Bank Group in these areas during the year 2011 is part of our commitment to transparency and accountability. Environment Education In 2011 NIC Bank Group continued to channel its educational support through established trusts, foundations and organizations while also undertaking its own activities as detailed below; a) Palmhouse Foundation: The foundation sponsors bright students from families that are financially challenged who have gained admission to national and provincial secondary schools and most of whom have attended poorly equipped rural primary schools. Through a network of environment-conscious civil societies, NIC Bank Group engaged Tupande Pamoja partners, namely, The East Africa Wildlife Society, Kenya Forests Working Group, Nature Kenya and the United Nations Environmental Programme in a partnership dubbed “Building a Corporate Social Responsibility Partnership for a Greener Kenya during the 2011 International Year of Forests.” While most of 2010 had been spent on monitoring the seedlings that were planted the previous year, 2011 saw the Group join hands with Tupande Pamoja partners to increase the forest’s acreage by a further 10,000 seedlings covering five hectares, and we have now covered 15 hectares since 2009. The initiative, in which the Group has so far invested Shs 2 million, recognizes the importance of the community in undertaking spot checks to ensure the seedlings have taken root. NIC Bank Group increased its sponsorship during the year to Shs 600,000 and an additional 8 students were included in the programme. The foundation currently has 20 students on NIC Scholarships spread throughout Kenya. b) Edumed Trust: This is a Kenyan Christian charitable trust which supports education and medical needs of bright students from needy families. The Group sponsored a further 10 students by donating Shs 300,000. c) Junior Achievement: Junior Achievement Kenya is a member of Junior Achievement Worldwide, one of the world’s largest and fastest growing not-for-profit organizations committed to inspiring and preparing young people to succeed in a global economy. Their programs are based on the three pillars: • Entrepreneurship The NIC Bank Group also supported the “Rhino Ark Trust”, another initiative aimed at the conservation of the environment, by sponsoring teams to the 2011 Rhino Charge. This is an annual off-road motorsport competition that has been held in Kenya since 1989. The event is held to raise funds for a very noble cause – the conservation of Kenya’s Aberdare Ecosystem. In 2011 Shs 75 million was raised during this event. • Work readiness • Financial literacy The Group donated Shs 300,000 towards their programs and also participated in the Job Shadow program which gave high school students a chance to experience ‘a day NIC Bank Limited • Annual Report & Financial Statements 2011 • 27
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NOTICE OF THE ANNUAL GENERAL MEETIN
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PROXY FORM The Group Company Secret
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