Annual Report 2010 Nederlandse W a Tersc Hapsbank N
ANNUAL REPORT 2010 NEDERLANDSE W A TERSC HAPSBANK N . V. Good Governance It is fundamental that bankers make a maximum effort to restore the confidence of their clients. For this reason, we chose to use “Good Governance” as the theme of this Annual Report. Besides robust rules, perception and emotion are determinative factors in applying good governance. One of the initiators of the Banking Code, Boele Staal, Chair of the Dutch Banking Association, shares his view on this subject. Furthermore, we interviewed representatives from the borrowing sectors, asking them how they deal with governance. They are Marc Calon, Chair of housing corporations umbrella organisation Aedes, Bernt Schneiders, mayor of the city of Haarlem and Chair of the Dutch Association of Mayors, and Peter Glas, Chair of the Dutch Association of Water Boards. ANNUAL REPORT 2010 NEDERLANDSE W A TERSC HAPSBANK N . V. Contents Headline figures 5 Managing Board 6 Management Team 7 Employees 7 Supervisory Board 8 Report of the Supervisory Board 10 Boele Staal (Chair of the Dutch Banking Association): “Anybody departing from our Code has some explaining to do” 14 Report of the Managing Board 16 2 n Economic developments 16 n Overview of financial results for 2010 17 n Addition to the reserve; dividend 18 n Outlook 19 n Strategy 20 n Developments relevant to the Bank’s strategy since 2000 20 n Developments in 2010 22 n Risk management 26 n Solvency 27 n HR policy 27 n Employees 28 Nederlandse Waterschapsbank N.V. Nederlandse Waterschapsbank Aedes Chair Marc Calon on culture change
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