Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.

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CONTRIBUTION TO THE COMMUNITY AND SOCIETY A healthy development of the community and society in general profits from a strong performance in all business sectors. As a leading commercial bank we recognize the importance to serve as an important pillar for the public infrastructure as part of our social responsibilities. Our mission and vision as well as overall business strategy contributes to the economical and social development of Cambodia. Major activities undertaken include, but are not limited to: • Assistance in the development of human resources in Cambodia the Bank has provided 150 internships for university students. • Donations of approx. US$400,000 to communities as well as social institutions, such as Cambodian Red Cross, education, Non-Profit Organizations etc. HUMAN RESOURCE DEVELOPMENT The Bank focuses as one of its priorities in the capacity building of its human capital by providing both internal and external training programs locally and internationally. In 2008, the Bank has given financial support to 35 staff members to undertake ACCA training programs in Cambodia and overseas. Additional staff members are studying for their MBA, general English and Chinese language skills and technical improvements related to Banking & Finance. Furthermore the Bank has and continues to organize internal training courses to enhance its staff capacity in matters of banking, accounting and related to the planed stock exchange. The quality of training has further improved in order to meet the requirements and challenges of best business practices as well as development, modernization and integration steps in line with the overall Bank's business plan and strategies. CORPORATE GOVERNANCE The Bank is fully committed to maintain high standards in corporate governance and sound practices to ensure sustainable growth rates and to protect the interest of its stakeholders. business The composition of the Board has been realigned to strengthen its capacity, strategy and overall business policy and to provide leadership for the management and staff. During 2008 two non-executive and independent directors (with extensive experience in finance, banking and audit) were appointed. All Board members actively participated in the Board- and committee meetings. The Audit Committee, who reports directly to the Board of Directors, reviews the audited financial statements to ensure that it conforms with accepted accounting principles. In addition it provides their judgments on items that might affect the financial position of the Bank. The Committee has the power to conduct or authorize investigations into any matter within its terms of reference. Annual Report 2008 11
RISK MANAGEMENT Being fully aware of the important role of risk management, the Board of Directors focused particularly on this issue during the year. The Risk Management Committee (RMC) of the Board (including one independent director as member), held periodic meetings to assess risks and provide guidance about managing significant risks based on various sources of information and data with help of analytical and methodological frameworks. On the operational level the Internal Audit regularly and timely checks whether all Head Office departments and branches follow the internal rules and regulations written in the banks operational handbooks. In case of need the Audit Department requires and follows up on prompt corrective actions based on their report. The Risk Management- and the Credit Management Committees monitor and evaluate possible risks of all loans to clients. In addition each head of all operating units have regular meetings in order to be well informed and aware of potential and actual risks which could effect the bank overall performance. CODE OF CONDUCT All staff and management are required to perform their work diligently and honestly, placing first the interests of the Bank. In addition, all staff is deemed to understand, accept and follow their duty to strictly abide by the Bank's Code of Conduct which is stipulated as follows: • Not to solicit or to receive on an unsolicited basis gifts, commissions, kickbacks or valuables of any kind from customers; • Not to use their position to conduct private business; • Not to conduct in any illegal or immoral activities acting in the capacity of the Bank's staff; and • Not to engage in any acts, behaviors or arrangements causing damages to the Bank's reputation and/or financial interest. 12 Annual Report 2008
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Page 7 and 8: PRESIDENT’S AND CEO'S REPORT Dist
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Page 19 and 20: Opinion In our opinion, the accompa
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Page 25 and 26: INCOME STATEMENT FOR THE YEAR ENDED
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Page 31 and 32: CASH FLOW STATEMENT FOR THE YEAR EN
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NOTES TO THE FINANCIAL STATEMENTS 3
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Sihanouk Ville Independent Blvd., S
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Sovanna # 307-309, St. 271, Sangkat
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