Summary of Code of Ethics for Board of Directors


The Board of Directors of Prudential Bank Ltd. is committed to fostering a culture of integrity, transparency, and ethical behaviour. In pursuance of this, the Board has instituted a Code of Ethics which serves as a guide for board members to uphold the highest standards of ethical and professional conduct in their roles as stewards of the Bank. The following are the key duties of the Board;

1. Fiduciary Duty:
Board members shall act at all times in the best interests of the Bank, and shall exercise duty of care, duty of loyalty, and diligence in their decision-making processes. Directors are not permitted to engage in any conduct or activities deemedinconsistent with the Bank’s best interest or that disrupt or impair the Bank’s relationship with any person with whom the Bank has or proposes to enter into a business or contractual relationship.

2. Integrity and Honesty:
Board members shall uphold the highest moral and ethical standards, ensuring that their actions and decisions reflect the values of the Bank. Honesty and integrity for members of the Board are non-negotiable.

3. Compliance with Laws and Regulations:

Board members are obligated to be familiar with and comply with all applicable lawsand regulations governing the banking industry, and commercial practices of lawful business. They shall promote a culture of strict adherence to legal and regulatory requirements.

4. Conflicts of Interest:
Board members shall promptly disclose any activity that may directly or indirectly create a conflict with their duties to the Bank and act in the best interest of the bank, avoiding situations where personal interests may compromise their fiduciary duties.Transparency shall be a guiding principle when dealing with conflicts of interest.

5. Confidentiality:
Board members shall maintain the confidentiality of sensitive information as a fundamental responsibility. Directors are required to maintain the confidentiality of information entrusted to them by the Bank and any other confidential information about the Bank that comes to their attention, except when they are authorized by the Chairperson or are legally mandated to disclose.

6. Accountability and Transparency:
Board members shall be accountable for their decisions and actions. They shall communicate transparently with shareholders, customers and relevant stakeholders, ensuring that information about the bank's performance, risks, and governance is disclosed accurately and promptly.

7. Fair and Ethical Business Practices:
The board shall promote fair and ethical business practices, discouraging any form of discrimination, bribery, corruption, or other unethical conduct. They shall lead by example in fostering a culture of diversity, inclusion, and equal opportunity.

8. Corporate Social Responsibility:
Recognizing their role in society, board members shall actively support and promote the Bank’s corporate social responsibility initiatives that contribute to the overall well-being and growth of the community and the environment.

9. Reporting and Whistleblower Protections:
The Board shall affirm its commitment to establishing effective reporting mechanisms and whistleblowing procedures. Board members shall encourage a workenvironment where concerns about unethical behavior or of matters injurious to the Bank’s reputation or economic interest can be reported without fear of retaliation or victimization.

By subscribing to this Code of Ethics, the Board of Directors of Prudential Bank Ltd.affirms its dedication to the highest standards of governance, integrity, and ethical conduct, fostering trust among stakeholders and ensuring the long-term success of the Bank.