News Details

APS Bank Group reforms Board and Management Committees

27/10/2020 08:00:00

 

APS Bank Group reforms Board and Management Committees

As part of APS Bank's commitment to uphold the highest standards of corporate governance and to further nurture the Bank's culture and values, the Board of Directors has revised its structure of Board and Management Committees in line with current best practices.

What was previously the Governance & Conduct Committee has been split into two. The ESG Committee is a first for a Maltese bank, creating meaning and value to Environmental, Governance and Social aspects that have become high on the agenda of financial regulators and banks alike. The Conduct Committee focuses on regulatory, integrity and conduct issues, including oversight on the transparent provision of products and services and consumer protection. An updated mandate was also given to the Nominations & Remuneration Committee. Changes were also carried out to the composition of most Board and Management Committees, bringing further expertise and diversity into these bodies.

The attached infographic lays out the corporate governance structure of Committees by which the Management team is supervised and supported, respectively.

Frederick Mifsud Bonnici, APS Bank Chairman, stated, "Our emphasis on being a sustainable Bank long-term, has now led us to creating an ESG Committee focused on driving this topic even further than ever before. Having dedicated teams and committees are an essential part of the sustainability strategy which lies at the heart of the Bank."

APS Bank Group reforms Board and Management Committees

 

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APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.