Audit Committee

The Audit Committee consists of four members, three of which (including the Chairman of the Audit Committee) are independent non-executive directors. The Audit Committee meets 5 times a year and assists the Board in monitoring:

• ­ the integrity of the financial statements of the Bank
• ­ the adequacy and effectiveness of the systems of internal controls of the Bank
• ­ the qualifications and independence of the Bank's external auditors and the performance of the Bank's internal and external auditors
• ­ any other relevant issue

Compensation Committee

The Compensation Committee is composed of three non-executive directors and meets quarterly to:

• ­ establish the compensation policy
• ­ review individual performances, salary adjustments and position upgrades
• ­ review any other relevant compensation issue

Risk Committee

The Risk Committee has been established following the recent recommendations of the Walker report. It's main duties are to assist the Board in assessing the different types of risk to which the Bank is exposed, as well as its risk management structure, organization and processes.