Good governance and ethics : « BCDC» DNA

The Banque Commerciale Du Congo applies for strict norms in terms of risk management and internal control governance. The bank considers as great value, its  Clients’relationship, through a sound policy and the respect of a good business code of conduct. The bank wants to be internationally recognized for the quality of its products and services, its rigor, its internal control, its management transparency, at any level of its organization. BCDC is highly concerned by the rules and principles of good corporate governance.

All board and executive committe’s members strive for keeping intact the good image of professionalism  and reputation toward financial institutions, locally and abroad and regulatory bodies, as well as toward our customers.
As such:

The bank already adopted a clear structure in terms of governance;
The board of directors takes efficient decisions in the respect of the social interest;
All the board members are committed and act with integrity;
The board of directors handles specialized committees;
The bank defined a clearcut executive management;
Board members and executive managers are fairly and responsibly remunerated;
The shareholders’rights are fully respected and participation to the  general assembly is firmly encouraged

The board of directors

Except for matters devoted to the shareholders, as expected by the law or in the articles of association, the board of directors is in charge of the bank’s strategy. In its decision process, the board is looking sustainable and successful  financial activities. Due to that, long term profitability is foreseen, while being concerned by our customers’ interest, as well as  shareholders, our staff and communities where the bank operates.


The executive committee

Its role consists in managing the bank in the respect of the values, strategy, approved budget plans by the board. The executive committee is at the forefront for following laws and regulations, particularly related to the banking industry.
The board of directors duly determined, according to the chart, powers and responsabilities of the general manager and the executive committee.
Only the general manager, is also member of the board of directors. He is president of the executive committee, daily manages the bank. He submits to the board, the committee’scomposition and powers for approval.

The audit committee

Its mission consists in providing assistance and advice to the board of directors in its supervision and internal control follow up, at a large extent, especially in financial reporting.

Audit committee’s duties

The audit committee controls:

The  integrity of the financial figures and how BCDC’s performance is reported to third parts;
The  quality of the external audit process;
The quality of the internal audit process; the committee can dismiss the general auditor.
In general, the quality of the internal control, particularly related to risk management, compliance, code of conduct. Yearly,  the compliance report isdeeply scrutinized. The compliance officer can be revoked.

The audit committee’s composition

Presently, 5 non executive board members are nominated by the board of directors.

Control of BCDC

The bank operates in a regulatory environment.

The  regulatory supervision

As a bank, BCDC is controlled by the Central Bank of Congo (law N°003/2002 dated February 2. 2002 related to the activity and control of financial institutions).

External auditors

The external auditors are approved by the Central Bank of Congo. Its mandate lasts for 3 years with the obligation to inform the Central Bank prior to its renewal.

Its mission consists in :

To certify the fianancial reports truly show the reality;
To make sure that accounting principles are followed;
To write down a detailed report on the internal control supervision, its adequacy and efficiency.

It communicates to the Central Bank and to the audit committee significant weaknesses which may appear in the internal control.