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CORPORATE GOVERNANCE - ocbc.com

63 BUILDING ON OUR CORPORATE STRATEGY FOR SUSTAINABLE GROWTHCORPORATE GOVERNANCE A summary of the disclosures made pursuant to the Bank s CORPORATE GOVERNANCE arrangements are provided on pages 78 to 80 of this Annual Report. BOARD MATTERS PRINCIPLE 1: THE BOARD S CONDUCT OF AFFAIRSThe Board is elected by the shareholders to supervise the management of the business and affairs of the Bank. The prime stewardship responsibility of the Board is to ensure the viability of the Bank and to ensure that it is managed in the best interests of the shareholders as a whole while taking into account the interests of other stakeholders. The Bank has a board charter approved by the Board. Broadly, the responsibilities of the Board include the following: reviewing and approving overall business strategy as well as organisation structure, as developed and recommended by management; ensuring that decisions and investments are consistent with long-term strategic goals; ensuring that the Bank operates in such a way as to preserve its financial integrity and in accordance with policies approved by the Board; overseeing, through the Audit Committee, the quality and integrity of the accounting and financial reporting systems, disclosure controls and procedures and internal controls; and, through the Risk Management Committee, the quality of

CORPORATE GOVERNANCE A summary of the disclosures made ... The Nominating Committee comprises executive officers of the Bank and its Mr Tan Ngiap Joo ...

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