This represents an increase of 5,56 per cent in budgeted expenditure compared to actual expenditure for the previous financial year. The four subsidiary companies of the Bank achieved their objectives during the financial year.
After a review of reports by their Boards of Directors, and internal and external auditors, the Bank is satisfied that these companies are managed in accordance with their objectives and best corporate governance practice. The results of the subsidiaries are reported on a consolidated basis with those of the Bank in the financial statements.