DBN tackling risk-taking challenges: Angula

WINDHOEK: The Development Bank of Namibia (DBN) has been gearing itself to tackle the challenges involved in risk-taking since last year, DBN chairperson Elize Angula says.

Angula said this in her message published in the bank’s 2013 annual report, launched here on Wednesday.

“The financial services’ industry is changing rapidly, and the nature of risk-taking is increasing in complexity and magnitude. Therefore, the DBN is geared to tackle such challenges,” she noted.

Angula stressed that because of this more complex business environment, directors and management adopted an Enterprise-Wide Risk Management Framework in 2013.

That framework helps to manage the risks proactively by identifying risks timeously, measuring it accurately, understanding its implication now and in the future and ensuring that appropriate risk- management, control and reporting systems are in place before such risks materialise.

The the bank’s overall strategy is to ensure that risks arising from its operations are identified and managed in order to remain solvent and sustainable.

“To date, it gives me comfort to state that the DBN continues to play an exemplary role on good governance in the country,” Angula said.

SOURCE: NAMPA