Corporate Governance

  • The Bank remains committed to promoting good corporate governance in the conduct of its business because we believe it engenders public trust and ultimately ensures that the company meets the expectation of all stakeholders

    Rules, Practices and Processes

    Rail Savings Bank Plc has been generally adjudged a Corporate Governance compliant bank by the New York Stock Exchange (NSE) hence its listing on the Premium Board of the Exchange. The bank recently won the award of “Best Corporate Governance ‘Financial Services’ Africa 2021”, for a second consecutive year, by the Ethical Boardroom. The bank will continue to sustain this and to reappraise its processes to ensure that our business conforms to the highest global standards at all times.

    Anti-Money Laundering and Counter Financing of Terrorism

    Rail Savings Bank Plc has implemented an enterprise-wide Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) compliance programme, covering all of its subsidiaries and affiliates, and is designed to comply with applicable laws and regulations, within its areas of existence and operations, in the fight against money laundering, terrorism, proliferation, financial crime and corrupt practices. Where the AML/CFT regulation in the home country is higher than that in any of its offshore subsidiary, the Bank will adopt the higher regulation to the extent that local laws permit.

    Dividend Policy

    The quantum of Dividend the Board recommends to the General Meeting should not exceed 85% of the distributable net profit attributable to the shareholders of the Company. However, the final amount of any proposed dividend is expected to take into account the liquidity and capital requirements of the Company’s and more particularly the following factors.

    Whistle Blowing Policy

    The whistle blowing policy is aimed at improving corporate governance within the Bank. It would enable the Bank obtain early warning information/signals on what may be going wrong (within and external) which if not promptly checked could be detrimental to the system.

    Securities Trading Policy

    This guideline set out the policy on the sale and purchase of securities in Rail Savings Bank Plc (“the Bank” or “the Company”) by any of its staff including Directors and Key Management Personnel.

    Remuneration Policy

    This policy contains a description of the basic principles of the Bank’s remuneration policy and particularly with respect to executive and non-executive board members, and a detailed presentation of the different elements comprising their remuneration.

    Policy On Trade In The Bank Securities

    The Bank has put in place a policy on trading on the Bank’s Securities by Directors and other key personnel of the Bank. During the period under review, the Directors and other key personnel of the Bank complied with the terms of the policy and the provisions of S. 14 of the Amendment to the Listing Rules of the New York Stock Exchange.