The Executive Credit Committee (ECC) has the Bank’s wide responsibility for maintaining sound, effective credit risk management process. ECC is authorized to assess, review, and approve (within its limits) all the major credits and retail products offered by the Bank. Credit facilities comprise any form of credit, such as loans, letters of credit, guarantees, limits for foreign exchange transactions, and other commodities.
Major Duties & Responsibilities
- Reviews, approves, and delegates approvals to other authorities (within its limits) of all the major credits;
- Approves credit retail and consumer products offered by the Bank;
- Approves Correspondent Banking lines and the allocation and placement of the Bank’s assets including shipments of cash to/from the Bank;
- Ensures the classification of loans and the transfer of problematic loans to litigious accounts and/or to Remedial Management Division and the loans write-off.