Key matters deliberated by our Board
We maintain a one-year rolling forward planner for the Board and each committee for discussions during the year. Our standard and regular agenda items include
- report-backs from each Board committee; and
- comprehensive reports from:
- the Chief Executive Officer (including strategy execution and our performance within the context of the operating environment and competitor landscape);
- the Financial Director; and
- the Chief Risk Officer.
In addition, the following notable items were deliberated at the Board:
- The Separation:
- the implementation of certain aspects of the Separation arrangements;
- the sell-down of Barclays Africa shares by Barclays PLC through an accelerated bookbuild;
- a significant information technology outsourcing arrangement; and
- the strategy to open offices in the UK and the US through licensed securities entities, to support our corporate clients in doing business in these countries.
- Regulatory, risk and conduct matters:
- IFRS 9 (accounting for financial instruments), and BCBS 239 (Basel Committee on Banking Supervision’s principles for effective risk data aggregation and reporting), and King IV.
- Economic capital and the role it plays in risk appetite development and monitoring.
- Absa Bank’s exposure to state-owned entities and our related risk appetite.
- The Group’s pension fund and related regulation, and risks.
- Competition law (having regard to the Competition Commission matter and other legislative developments).
- Matters pertaining to suppliers implicated in State Capture (being the controversy surrounding the Gupta family, their alleged undue influence over state organs in South Africa, and the alleged corrupt business dealings of companies they own or are related parties to).