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Last Updated: 2003-05-12
The Myburgh Report on the Standard of Corporate Governance in the Five Largest Banks

GENERAL REPORT
Executive Summary


Absa Group Limited
Absa Bank Limited


FirstRand Bank Holdings Limited
FirstRand Bank Limited


Investec Limited
Investec Bank Limited


Nedcor Limited
Nedbank Limited


Standard Bank Group Limited
Standard Bank of South Africa Limited


The Executive Summary of the General Report by Adv J F Myburgh SC in terms of the Banks Act, 94 of 1990.

    Date: 30 April 2003
      GENERAL REPORT

      EXECUTIVE SUMMARY


      1. After reviewing the corporate governance of the banks, the following findings are made in general terms:
      • the banks are committed to the adherence to and application of high standards of corporate governance;
      • acting on the advice of specialists in corporate governance, the banks on their own initiative from time to time review their corporate governance to ensure compliance with accepted corporate governance principles;
      • no serious breaches of corporate governance were found to exist;
      • the corporate governance of the banks is sound;
      • vigilance is nevertheless required to ensure continued compliance with the standards governance which are constantly evolving in South Africa and internationally.

        See attachment / link box for more detail.
      Attachment / Link
      Executive summary (178Kb)
      General report (212Kb)
      Annexures
      Annexures A - F (18338Kb)
      Index (37Kb)
      Annexure A (29Kb)
      Annexure B (1322Kb)
      Annexure C (192Kb)
      Annexure D1 (1902Kb)
      Annexure D2 (1168Kb)
      Annexure D3 (628Kb)
      Annexure E (265Kb)
      Annexure F1 (5888Kb)
      Annexure F2 (622Kb)
      Annexure F3 (4138Kb)
      Annexure F4 (1065Kb)
      Annexure F5 (601Kb)


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