The Credit Committee comprises two non-executive  Directors with a good knowledge of the Malawi economy and business environment. Its overall responsibility is to ensure the soundness of the Bank’s credit portfolio and credit transactions are executed in accordance with prudent banking practices in line with the regulators guidelines. Specific responsibilities among others include:

• To provide strategic management direction from a credit strategy perspective
• To review the ‘in force” portfolio risks trends as well as the quality of new  business  origination
• Ratification of terms and conditions of all credit facilities granted by management under its discretionary powers;
• Approval of all credit facilities above the discretionary limits set for management save for those facilities requiring full Board approval in accordance with Reserve Bank of Malawi directives; and
• Review of non-performing assets and recovery procedures initiated in respect thereof and establishment of appropriate levels of provisioning where required.

Reviewing other focus areas pertaining to the agreement and monitoring of corrective actions as applicable, regarding:

• Uniform interpretation of credit regulatory requirements and acceptable standard of credit reporting
• The formulation of a view  on the economy /credit cycle  and ensuring that the Bank’s Management align their credit origination strategies  with the outlook
• Performance relative to credit appetite thresholds
• Approval of credit input into ICAAP

The Chief Executive Officer, the Risk Head the General Manager for the Corporate function attends all Credit Committee meetings in a non-voting capacity. The Credit Committee meets regularly, usually once a quarter.

Memberships

• Mr. Lekani Katandula | Chairman
• Mr. Dheeraj Dikshit | Group Managing Director
• Mr. Thomas Kadantot | Director