7 months ago



ABOUT THE COMPANY Bank of Baroda, one of the most prominent banks in India, commenced it’s first overseas operations in Kenya during the country’s pre-independence era, by opening it’s first branch in Makadara Street in Mombasa on 14th December, 1953. While the bank was operating successfully in Kenya, in order to provide further autonomy for better business growth and to participate actively in the overall economic growth of the country, the bank decided to convert it’s presence into a subsidiary of the Bank in the name of Bank of Baroda (Kenya) Ltd. in 1992. The bank has since been operating as a fullfledged and self-sufficient entity in the country. While the parent bank continues to be a major shareholder with 86.70% holding in this subsidiary, rest of the shareholding is privately placed with local shareholders. Over the years, the bank has substantiallystrengthened its position in the Industry and presently operating with more than 100bn. business from it’s 13 branches located at all the major and important business centers in the country, viz. Nairobi, Mombasa, Kisumu, Eldoret, Nakuru, Thika, Kakamega and Meru. The focus of the bank is customer centric and to ensure that the interests of all stakeholders are protected in the best possible way. Bank sees huge business potential and opportunities in the country with the fast development program embarked upon by the Government of Kenya and it would be our constant and ardent endeavor to participate whole heartedly in the progress of the country by following the principles of ethical, honest and transparent banking. 4

GENERAL INFORMATION BOARD COMMITTEES ANNUAL REPORT AND FINANCIAL STATMENTS 2017 The board committee as at the date of this report comprise: Board Audit Committee Board Credit Committee Board Risk Management Committee Composition Three Directors (Non-Executive) Two Directors (Executive) and One Director (Executive) and Three Directors (Non-Executive) Three Directors Non-Executive Main Function Strengthening the control environment, Appraisal and approval of Ensuring quality, integrity financial reporting and auditing function credit applications and and reliability of the Bank's reviewing credit portfolio risk management function Frequency of meetings per annum (minimum) Quarterly Quarterly Quarterly Chairperson Mr. Patrick K. Njoroge Mr. Eric Francis Tucker Mr. Patrick K. Njoroge Members Mr. Eric Francis Tucker Mr. Patrick K. Njoroge Mr. Eric Francis Tucker Mr. Ramesh Chunilal Mehta Mr. Saravanakumar A. Mr. Saravanakumar A. Mr. Ramesh Chunilal Mehta Dr. Winfred N. Karugu Mr. Yogendra Singh Saini 5