CORPORATE GOVERNANCE PRACTICES IN FIRST PRIVATE BANK

Abstract

The study aligned with the objectives of the study are to identify corporate governance structure of First Private Bank (FPB) and to examine the corporate governance practices of FPB. To support this study, the required data was collected from interview. For interview, 83 questionnaires were prepared in accordance with 13 principles of Basel Committee on Bank Supervision 2015. The questionnaire is constructed into five sections for analysis. FPB does not follow corporate governance principles of either Organization for Economic Co-operation and Development (OECD) or Basel Committee. FPB does not have corporate culture and values creation and establish the Audit Committee which is to govern the organization. FPB does not appoint the Chief Risk Officer (CRO) to oversee all kinds of risks. According to the result of the study, FPB should establish Audit Committee, create corporate culture and values, and appoint CRO for better corporate governance. The board members should have more diversity to cover the different aspects for sound corporate governance. FPB should have corporate governance report in its annual report for better disclosure and transparency to public and investors. The national corporate governance codes and principles should be developed for businesses in Myanmar by government and regulators