AU Bank
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Corporate Governance Principles

About Corporate Governance

    Corporate Governance is a system of rules, practices and processes by which a company is directed and run. It is about commitment to values, ethical business conduct, and contributions towards social causes and about considering all stakeholders’ interest in the conduct of its business.

    Over the last few years, there have been several changes in the way corporates run their operations. For one, a tighter regulatory regime has been implemented, significantly enhancing responsibilities for the Board of Directors, Independent Directors as well as the growing presence of shareholders’ activism leading to building of environment of self-governance. Secondly, the cardinal principles such as independence, accountability, responsibility, transparency, fair and timely disclosures, credibility etc. serve as the means for implementing the philosophy of corporate governance in letter and spirit.

Our philosophy on Corporate Governance

AU Bank believes in nurturing long-term relationships and establishing an open dialog with all its key constituents. We believe in creating sustainable value for all our stakeholders. Therefore, AU Bank’s philosophy of Corporate Governance is always aimed at value creation, keeping interest of all stakeholders protected in most inclusive way. AU Bank also understands and respects its fiduciary role and responsibility towards its shareholders, customers, employees and bankers, developmental financial Institution and strives hard to meet these expectations. We continuously focus on upgrading our governance practices and systems to effectively meet the new challenges faced by the company.

Our Initiative for good Corporate Governance

  • Involvement and enthusiastic participation of Board of Directors and committees thereof
  • Appropriate and timely checks through audits, conducted by Independent Auditors at various levels to ensure healthy governance practice
  • Implementation of internal financial control over financial reporting
  • Separation of committee into Corporate Governance Committee and Nomination & Remuneration Committee
  • Codes and policies the govern the sound governance in the bank
  • Transparent and timely disclosure that ensure compliance with applicable statutory requirements

AU Bank strictly ensures compliance with basic codes standards, simultaneously providing flexibility and accommodates new approaches and ideas that could be beneficial for the long-term interests of stakeholders.

Good Corporate Governance is now being recognized as a key management tool and a tool for socio economic development to enhance economic efficiency, growth and stakeholder confidence and company manages to be committed to values, ethics and contribution towards the social cause.

AU Bank DHARMA - Our value enablers

  • Customer Focus: If our customers need something, we will make it happen
  • Work Hard and Look for Details: Willing to go the extra mile in everything we do and thoroughly understand customer needs, issues and organizational delivery model.
  • Responsibly Entrepreneurial: 100% ownership & accountability and 0% excuses
  • In Favour of Action: Urgency in everything we do
  • Integrity: We are fair and consistent in all our dealings, employees, customers, partners or shareholders
  • Nurture Talent and Succeed Together: We nurture talent and together we are a great team working for common goals
As a part of good Corporate Governance, AU Bank put in place various committees to oversee the efficient functioning of the bank

Empowering Customers