NIC Bank which has been recognized for corporate governance awards for financial reporting has now added a new level of director performance by publishing a scorecard of directors attendance of board and committee meetings during the year.
Director attendance is an important measure of their performance, and contribution to the company. They should also be measured by how many other boards they sit and their other executive commitments to determine if they add value to the company.
think it is a good move.suppose it cld work for insurance companies as well,voluntarily or thwarted
Glad to hear that they are taking steps in improving their discosure, but I think they need to concentrate in diversifying their operation. According to Business Daily, “Shrinking net interest margins – the difference between lending and deposit rate – pose a threat to the performance of NIC Bank, whose lending business accounts for 74 per cent of its income, way above the industry average.” 74% is astonomical.
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