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SBCI Governance

The issued share capital of the SBCI is owned solely by the Minister for Finance. The SBCI’s Constitution provides that there shall be a minimum of two and a maximum of nine Directors.

The Minister for Finance is the sole owner of the issued share capital of the SBCI. A Board of Directors and three committees established by the Board oversee the activities of the SBCI.

The SBCI was incorporated pursuant to the Strategic Banking Corporation of Ireland Act 2014 (the ‘SBCI Act’) in September 2014. In July 2016, it converted to a Designated Activity Company under the Companies Act 2014.

The SBCI’s Constitution provides that there shall be a minimum of two and a maximum of nine Directors, one of whom will be the Chief Executive Officer, who is an ex-officio member of the Board. The first Directors were appointed by the Minister for Finance on the formation and registration of the SBCI. The Board may appoint subsequent Directors on the nomination of the Minister and shall implement the terms of the Minster’s nomination. The Chairperson is appointed by the Minister.

View short biographies and appointment terms of the Board appointees here

The Board has established three committees:

Audit and Risk Committee

Credit Committee

Remuneration Committee

A Code of Conduct is in place for Directors and was updated in 2019. SBCI staff are employees of the National Treasury Management Agency (NTMA) and assigned to the SBCI. These staff members are subject to the NTMA’s Code of Practice on Confidentiality and Professional Conduct. Directors and members of staff are expected to ensure that all their activities are governed by the ethical standards reflected in the relevant code.

SBCI Board Code of Conduct

Protected Disclosure Annual Report 2019
Section 22 of the Protected Disclosures Act 2014 requires the publication of a report each year relating to the number of protected disclosures made in the preceding year and any actions taken in response to such disclosures.

No protected disclosures were received by the SBCI in the reporting period up to 31 December 2019.