Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.
Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.
Annual report 2008-OK-B-up.qxp - Canadia Bank Plc.
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CONTRIBUTION TO THE COMMUNITY AND SOCIETY<br />
A healthy development of the community and society in general profits from a strong performance in all<br />
business sectors. As a leading commercial bank we recognize the importance to serve as an important<br />
pillar for the public infrastructure as part of our social responsibilities. Our mission and vision as well as<br />
overall business strategy contributes to the economical and social development of Cambodia. Major<br />
activities undertaken include, but are not limited to:<br />
• Assistance in the development of human resources in Cambodia the <strong>Bank</strong> has provided 150<br />
internships for university students.<br />
• Donations of approx. US$400,000 to communities as well as social institutions, such as<br />
Cambodian Red Cross, education, Non-Profit Organizations etc.<br />
HUMAN RESOURCE DEVELOPMENT<br />
The <strong>Bank</strong> focuses as one of its priorities in the capacity building of its human capital by providing both<br />
internal and external training programs locally and internationally. In <strong>2008</strong>, the <strong>Bank</strong> has given financial<br />
s<strong>up</strong>port to 35 staff members to undertake ACCA training programs in Cambodia and overseas. Additional<br />
staff members are studying for their MBA, general English and Chinese language skills and technical<br />
improvements related to <strong>Bank</strong>ing & Finance. Furthermore the <strong>Bank</strong> has and continues to organize internal<br />
training courses to enhance its staff capacity in matters of banking, accounting and related to the planed<br />
stock exchange.<br />
The quality of training has further improved in order to meet the requirements and challenges of best<br />
business practices as well as development, modernization and integration steps in line with the overall<br />
<strong>Bank</strong>'s business plan and strategies.<br />
CORPORATE GOVERNANCE<br />
The <strong>Bank</strong> is fully committed to maintain high standards in corporate governance and sound<br />
practices to ensure sustainable growth rates and to protect the interest of its stakeholders.<br />
business<br />
The composition of the Board has been realigned to strengthen its capacity, strategy and overall business<br />
policy and to provide leadership for the management and staff. During <strong>2008</strong> two non-executive and independent<br />
directors (with extensive experience in finance, banking and audit) were appointed. All Board<br />
members actively participated in the Board- and committee meetings.<br />
The Audit Committee, who <strong>report</strong>s directly to the Board of Directors, reviews the audited financial<br />
statements to ensure that it conforms with accepted accounting principles. In addition it provides their<br />
judgments on items that might affect the financial position of the <strong>Bank</strong>. The Committee has the power to<br />
conduct or authorize investigations into any matter within its terms of reference.<br />
<strong>Annual</strong> Report <strong>2008</strong> 11