NEWS & EVENTS

Corporate Governance Training

Oct 15,2009 :

On October 03, 2009 the Saint Lucia Development Bank hosted a Corporate Governance Training Programme facilitated by the CGC (Corporate Governance Consultants Inc) at the Coco Palm Resorts. The programme was attended by the National Development Corporation (NDC), St. Lucia Air & Sea Ports Authority (SLASPA) and NIPRO. The training looked at topics such as: Corporate Governance in the Financial Sector and public sector organizations Board Structure and Dynamics The Board's Tasks The Role of the Board in Strategy Director's Liability and its implications The Board and its Shareholders Corporate Governance has become increasingly necessary in the public and private sectors as it enhances shareholder and stakeholder values; brings investor confidence; increases the flow of risk capital and brings economic stability. Of particular interest to us as a bank, good governance is important because we do not rely on our own money but on other persons' - there is a heavy reliance on creditors and depositors. Also, due to the complexity of a bank's risks in terms of credit risk, exposure concentration risk, interest rate risk, exchange rate risk, reputation risk and liquidity risk to name a few, good governance is important and essential as all the aforementioned can be affected either negatively or positively. The programme was hailed a success by all those who attended and plans are being made to host Corporate Governance training for all statutory bodies on the island to also include the Ministers of Government.