...149 AB InBev Annual Report 2012 Corporate Governance Statement Contents 150 152 155 155 157 159 164 Introduction The Board of Directors Chief Executive Officer and Executive Board of Management Internal Control and Risk Management Systems Shareholders Structure I tems to be Disclosed Pursuant to Article 34 of the Belgian Royal Decree of 14 November 2007 Remuneration Report Corporate Governance Statement 1. Introduction 1.1. The 2009 Belgian Code on Corporate Governance The corporate governance practices of Anheuser-Busch InBev are reflected in its Corporate Governance Charter, which is available on www.ab-inbev.com/go/Corporate_governance. The Charter is regularly updated. As a company incorporated under Belgian law and listed on Euronext Brussels, Anheuser-Busch InBev adheres to the principles and provisions of the Belgian Corporate Governance Code, published in March 2009 (www.corporategovernancecommittee.be). However, in order to reflect Anheuser-Busch InBev’s specific shareholding structure and the global nature of its operations, the Board of directors has adopted certain rules which depart from the Belgian Corporate Governance Code. In summary, these rules are the following: Principle 5.3./1 (Appendix D) of the Code: “the Board should set up a nomination committee composed of a majority of independent non-executive directors”: The Board of directors appoints the chairman and members of the Nomination Committee from among the directors, including at...
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...companies, creating demand for a corporate culture of integrity driven performance and a new corporate transparency. Management and boards now feel compelled to ensure that proper governance processes are in place to protect corporate reputation, brand image and share holder value. According to Pricewaterhouse Cooper’s 8th Annual global CEO survey (Dec 2004), 50% of retail industry CEOs believe that there is a strong relationship among all elements of GRC (governance, risk and compliance) and that effective governance can be a value driver and a benefit versus a cost, to their companies. Effective corporate governance requires management and board involvement, accountability, embracing the processes, compliance, and structure required to direct and manage the affairs of a corporation. Its overall goal is to ensure the financial viability to the enterprise and enhance share holder value. For the retail and customer industry, globalization, which entails multinational operations, various financial reporting systems, and complex supply chain with wholesalers, distributors, and multiple types of retailers, not to mention multiple brand portfolios, and various types of outlets, provides significant rationales for management and boards to develop an effective GRC program. Successful corporate governance depends largely on trade-off among the various conflicting interest groups like government, society, inventors, creditors and employees of the organization. This study critically discusses...
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...Credit Risk Management Of AB Bank Limited 25. May, 2013 view with charts and images Executive Summary The ongoing development of contemporary management methods and the increased use of innovative financial products such as securitization and credit derivatives have brought about substantial changes in the business environment faced by credit institutions today. Especially in the field of lending, these changes and innovations are now forcing banks to adapt their in-house software systems and the relevant business processes to meet these new requirements. Credit Risk Management is intended to assist practitioners in redesigning a bank’s systems and processes in the course of implementing the Basel II framework. Throughout last five years securitization, rating and validation, credit approval processes and management, as well as credit risk mitigation techniques. Credit management is based on developments in the banking sectors is meant to provide readers with best practices AB bank would be well advised to implement regardless of the emergence of new regulatory capital requirements. AB Bank is to develop mutual understanding between regulatory authorities and banks with regard to the upcoming changes in banking. Credit risk Management provides interesting reading as well as a basis for efficient discussions of the current changes in AB Bank. The bank has been successful in holding its position as a progressive and dynamic financial institution in the country for a long...
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...Affecting The Bank rating Executive Summery Credit rating agencies (subsequently denoted CRAs) specialize in analyzing and evaluating the creditworthiness of corporate and sovereign issuers of debt securities. In the new financial architecture, CRAs are expected to become more important in the management of both corporate and sovereign credit risk. The logic underlying the existence of CRAs is to solve the problem of the informative asymmetry between lenders and borrowers regarding the creditworthiness of the latter. Issuers with lower credit ratings pay higher interest rates embodying larger risk premiums than higher rated issuers. Moreover, ratings determine the eligibility of debt and other financial instruments for the portfolios of certain institutional investors due to national regulations that restrict investment in speculative-grade bonds. The banking sector in Bangladesh passed through significant changes in terms of structure and policies. Starting with six nationalized commercial and a few specialized banks after independence, the total number of banks has reached 48 at present including private and foreign commercial banks. The Bangladesh financial sector is under going through a phase of transaction, transformation and convergence. The regulators are more active then ever before to bring the sector up to an international standard. The competitive environment created with the presence of too many banks in a small economy has also been forcing the banks to increase...
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...nursery, where about 3 years ago, the café operations was extended, includes trading hours extension, adding new menu, and extra tables and chairs, as well take-away food and sit-in dining are offered. Preliminary project scope Project name : Marketing research for garden and nursery business Project client/owner : David/Alison Project sponsor : David/Alison Project manager : Obed Project stakeholders : David, Alison, David’s daughter, staff members Objective the objective of this market research project is to maintain and increase the sales of this business product and services in the market in between the competitors of its business. The scope of the market research project includes: * Analysing target market by reviewing internal product sales...
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...Background of AB Bank Limited AB Bank Limited, the first private sector bank was incorporated in Bangladesh on 31st December 1981 as Arab Bangladesh Bank Limited and started its operation with effect from April 12, 1982. AB Bank is known as one of leading bank of the country since its commencement 28 years ago. It continues to remain updated with the latest products and services, considering consumer and client perspectives. AB Bank has thus been able to keep their consumer’s and client’s trust while upholding their reliability, across time. During the last 28 years, AB Bank Limited has opened 77 Branches in different Business Centers of the country, one foreign Branch in Mumbai, India and also established a wholly owned Subsidiary Finance Company in Hong Kong in the name of AB International Finance Limited. To facilitate cross border trade and payment related services, the Bank has correspondent relationship with over 220 international banks of repute across 58 countries of the World. In spite of adverse market conditions, AB Bank Limited which turned 28 this year, concluded the 2008 financial year with good results. The Bank’s consolidated profit after taxes amounted to Taka 230 cr which is 21% higher than that of 2007. The asset base of AB grew by 32% from 2007 to stand at over Tk 8,400 cr as at the end of 2008. The Bank showed strong growth in loans and deposits. Deposit of the Bank rose by Tk. 1518 cr ie., 28.45% while the diversified Loan Portfolio grew by over 30%...
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...83 152 156 157 G Our Dreams and Aspirations Corporate Profile Five Year Financial Highlights Share Performance Chairman’s Statement Group Chief Executive Officer’s Report AirAsia’s Strategy for Success Route Network Safety Product Development Go Holiday The Sky is Your Limit Champion of Low Fares AirAsia Roars Into Formula One One AirAsia Our People, Our Pride Investing In Our Future Major Milestones Serving You Better from Our 2nd LCC Terminal Awards & Accolades AirAsia Cares AirAsia Group Corporate Information Board of Directors Directors’ Profile Senior Management Senior Management Profile Managing Risk to Maximise Returns AirAsia Financial Snapshots Statement on Corporate Governance Audit Committee Report Statement on Internal Control Additional Compliance Information Financial Statement Analysis of Shareholdings List of Properties Held Notice of Annual General Meeting Proxy Form To be the best company to work for where employees are treated as part of a big family Create a globally recognised ASEAN brand To strive for the lowest cost so that all of the 3 billion people can fly with AirAsia Maintain the highest quality product using the best technology to reduce cost and enhance service level G G G China Myanmar Laos Macau AirAsia – Asia’s low cost leader AirAsia flies to over 86 routes...
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...AB Bank Limited BCIC Bhaban 30-31 Dilkusha Commercial Area Dhaka 1000 AB Bank Limited _____________________ Auditors’ report and consolidated financial statements for the year ended 31 December 2011 S. F. AHMED & CO Chartered Accountants House 25, Road 13A, Block D, Banani, Dhaka 1213, Bangladesh Telephones (880-2): PABX 989-4346 & 989-4258 Others 881-6467 & 881-5101 Fax (880-2): 882-5135 E-mails: (i) sfaco@citechco.net (ii) sfaco@sfahmedco.org Website: www.sfahmedco.org Auditors’ Report to the Shareholders of AB Bank Limited We have audited the accompanying consolidated financial statements of AB Bank Limited (“the Bank”) and its subsidiaries, namely, AB Investment Limited, AB Securities Limited, Cashlink Bangladesh Limited, AB International Finance Limited and AB Exchange (UK) Limited which comprise Consolidated Balance Sheet at 31 December 2011 and Consolidated Profit and Loss Statement, Consolidated Cash Flow Statement, Consolidated Statement of Changes in Equity and Liquidity Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh Financial Reporting Standards, and for such internal control as management considers necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud and error...
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...its goals. Leadership and management are two terms that are often confused. John Kotter of the Harvard Business School argues that “Management is about coping with complexity. Good management brings about order and consistency by drawing up formal plans, designing rigid organization structures, and monitoring results against the plans. Leadership, in contrast, is about coping with change. Leaders establish direction by developing a vision of the future; then they align people by communicating this vision and inspiring them to overcome hurdles." Robert House of the Wharton School at the University of Pennsylvania basically concurs when he says that ‘Managers use the authority inherent in their designated formal rank to obtain compliance from organizational members. Management consists of implementing the vision...
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...governance From Wikipedia, the free encyclopedia Jump to: navigation, search Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. The principal stakeholders are the shareholders, management, and the board of directors. Other stakeholders include labor(employees), customers, creditors (e.g., banks, bond holders), suppliers, regulators, and the community at large. Corporate governance is a multi-faceted subject.[1] An important theme of corporate governance is to ensure the accountability of certain individuals in an organization through mechanisms that try to reduce or eliminate the principal-agent problem. A related but separate thread of discussions focuses on the impact of a corporate governance system in economic efficiency, with a strong emphasis shareholders' welfare. There are yet other aspects to the corporate governance subject, such as the stakeholder view and the corporate governance models around the world (see section 9 below). There has been renewed interest in the corporate governance practices of modern corporations since 2001, particularly due to the high-profile collapses of a number of large U.S. firms such as Enron Corporation and Worldcom. In 2002, the U.S. federal government passed the Sarbanes-Oxley Act, intending...
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...the academic requirement of the BBA program under the Business Administration Department of DHAKA CITY COLLEGE. Under this program student have to participate in internship program of three month duration toward the fulfillment of the Degree. As practical orientation is an integral part of the BBA degree requirement, I was sent by the department to AB Bank Limited to take real life exposure of the activities of financial institutions. The Human Resource Division of ABBL arranges my internship program at Islampur Branch from December 26, 2010 to March 26, 2011. At the end of the internship period the student have to prepare a report on the organization and this report titled “Loans & Advances and SME sector of AB Bank Limited” is the outcome of my three months practical knowledge at AB Bank Limited. Rationale of the Study Theoretical knowledge is not enough for a student. There is a gap between theoretical knowledge and practical field. So, these two should be synchronized. Our internship program is launched mainly for this purpose. The practical orientation program in banks enable a student to take a closer look at “WHAT” a bank does and “HOW”. Another purpose that may be is to know about the rules, regulation, and organization environment before getting a job....
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...Other Material Items 18 Balance Sheet Business Review 20 Risk Management 39 Principal Risks and Uncertainties 110 Related Party Transactions 111 Gender Diversity 111 Board of Directors 111 Financial Statements Independent Review Report to Santander UK plc 112 Primary Financial Statements 113 Notes to the Condensed Financial Statements 117 Shareholder Information Risk Factors 152 Glossary of Financial Services Industry Terms 163 Directors’ Responsibility Statement 177 1 Business Review and Forward-looking Statements Chief Executive Officer’s Review Overview Santander UK has delivered profit in the first six months of 2011 maintaining its strong track record of profitability and balance sheet strength. In line with other UK banks, a further provision for payment protection insurance remediation has also been made, resulting in statutory profit after tax attributable to equity shareholders declining by 51% to £413m. Santander UK’s trading profit before tax was £1,142m, 2% lower than the first half of 2010, impacted by the cost of liquidity, term funding and low interest rates. Santander UK has maintained its industry-leading range of “best buy” products for our retail customers, and is achieving improved levels of service satisfaction in its retail, corporate banking and intermediaries businesses. By returning its retail banking call centres onshore, we have acted upon customer feedback to improve...
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...Basel Committee on Banking Supervision International Convergence of Capital Measurement and Capital Standards A Revised Framework Comprehensive Version This document is a compilation of the June 2004 Basel II Framework, the elements of the 1988 Accord that were not revised during the Basel II process, the 1996 Amendment to the Capital Accord to Incorporate Market Risks, and the 2005 paper on the Application of Basel II to Trading Activities and the Treatment of Double Default Effects. No new elements have been introduced in this compilation. June 2006 Requests for copies of publications, or for additions/changes to the mailing list, should be sent to: Bank for International Settlements Press & Communications CH-4002 Basel, Switzerland E-mail: publications@bis.org Fax: +41 61 280 9100 and +41 61 280 8100 © Bank for International Settlements 2006. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISBN print: 92-9131-720-9 ISBN web: 92-9197-720-9 Contents Introduction ...............................................................................................................................1 Structure of this document........................................................................................................6 Part 1: Scope of Application .....................................................................................................7 I. Introduction.....................
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...professionalism in the management system of a corporate body that enhances the credibility and acceptability to the shareholders, employees, potential investors, customers, lenders, governments and all other stakeholders. This is more true in case of Banking Industry. Since Banks deal in public money, public confidence is of outmost importance in this Industry. The study aims at finding out problems & deficiencies involved in Corporate Governance practice in Banking Industry in Bangladesh and also suggesting ways and means to remove the same in order to make the Corporate Governance practice sound and effective. In this study, both the primary and secondary data were used. The primary data relating to problems involved in Corporate Governance practice and suggestions to remove the same were collected on the basis of a questionnaire by interviewing 24 randomly selected Bank personnel such as Directors of the Board as the internal part of management and the Auditors as the external group. The secondary data were collected through an extensive literature survey on the subject. The study has identified some major problems in Corporate Governance practice in the Banking Industry of the country. The prospect of Corporate Governance practice is bright in Banking Industry in the country as reported by the respondents if problems are removed by the concerned management of the Banks as well as Bangladesh Bank management as the guardian of commercial Banks. Field of Research: Finance &...
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...professionalism in the management system of a corporate body that enhances the credibility and acceptability to the shareholders, employees, potential investors, customers, lenders, governments and all other stakeholders. This is more true in case of Banking Industry. Since Banks deal in public money, public confidence is of outmost importance in this Industry. The study aims at finding out problems & deficiencies involved in Corporate Governance practice in Banking Industry in Bangladesh and also suggesting ways and means to remove the same in order to make the Corporate Governance practice sound and effective. In this study, both the primary and secondary data were used. The primary data relating to problems involved in Corporate Governance practice and suggestions to remove the same were collected on the basis of a questionnaire by interviewing 24 randomly selected Bank personnel such as Directors of the Board as the internal part of management and the Auditors as the external group. The secondary data were collected through an extensive literature survey on the subject. The study has identified some major problems in Corporate Governance practice in the Banking Industry of the country. The prospect of Corporate Governance practice is bright in Banking Industry in the country as reported by the respondents if problems are removed by the concerned management of the Banks as well as Bangladesh Bank management as the guardian of commercial Banks. Field of Research: Finance & Banking...
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