NIC Bank was crowned the Champions of Governance and the Finance and Investment Sector leader by the Institute of Certified Secretaries (ICS) during its 2018 Champions of Governance (CoG) Awards Gala Night held this November.
This is the sixth time NIC Bank has picked the COG award having taken it home in 2010, 2011, 2013, 2015 and 2017. In addition, the Bank has for nine years running, since 2010, scooped the Finance and Investment Sector Award at ICPSK.
“All companies have a responsibility to protect the interest of its shareholders by ensuring that they set safeguards at both board and management level. As NIC Bank we have an additional responsibility to our customers to ensure that we put in place strong governance structures to ensure that our business remains stable and sustainable. Corporate governance is key to customer protection,” NIC Group Managing Director John Gachora said.
“Corporate Governance is embedded in our culture, we are constantly reviewing our internal processes and ensuring we are in compliance with our various regulators including the Central Bank of Kenya and CMA.”
Inaugurated in 2010, the Champions of Governance Awards, aims at promoting good governance practices by organisations by recognizing the practice of good governance in private and public-sector entities, innovations in organisations that support good governance practices and encouraging private and public-sector entities to focus on enhancement of good governance.
Over the years NIC Bank has strengthened its corporate governance from the Board level and management.
Over the close to six decades since NIC Bank was incorporated it has evolved into one of the leading financial institutions in the country. Listed on the Nairobi Securities Exchange (NSE), with about 26,000 shareholders, it’s growth can be seen on its balance sheet growth driven by a commitment to its customers and high corporate governance standards.
The Bank has seen positive growth in the past couple of years driven by retail and SME banking. It continues to leverage on Technology to roll out innovative solutions for its customers.
As NIC Bank continues to grow and increase its footprint across the country it remains committed to deliver good customer service and adhere to good governance in all its processes.
This year’s Champions of Governance Awards were held on Friday 2nd November, 2018.