Anti-Corruption

Thai Credit Bank Public Company Limited values business conduct and management with honesty, integrity, transparency and adhering to the principles of Corporate Governance Code. In line with this commitment, the Bank has declared intention to join the Thai Private Sector Collective Action against Corruption. This means that all levels of management and employees are prohibited from soliciting or accepting bribes and that the principles and guidelines are communicated to all levels of management and employees for strict implementation.

Anti - Corruption Policy

Thai Credit Bank Public Company Limited is committed to ensuring that the Bank has an effective anti-corruption policy for every type of banking transactions. This anti-corruption policy has been approved by the Bank's Board of Directors, which encourages personnel at all levels of the Bank to perform their duties responsibly with honesty and transparency without violating the following principles.

• The Bank adheres to principles for combating all forms of corruption, both directly and indirectly.
• The Bank conducts business in accordance with principles of anti-corruption by strictly emphasizing on ethical and moral principles. This is achieved in written documents such as policies, guidelines and manuals, including the implementation of appropriate risk management, internal and external communication, monitoring and control and audits on every department of the Bank.

Corruption means any form of actions seeking illegal benefits for oneself or others, both directly and indirectly. This may include political contributions, charitable donations, sponsorship, gifts, entertainment (hospitality), and other expenses. Including the abuse of power by proposing, committing, accepting, requesting, and claiming, giving or accepting bribes, soliciting illegal behavior, undermining trust or any behavior that may lead to corruption;

The Bank has published the Anti-Corruption Policy, which forms an integral part of the fundamental principles of the Code for Business Conduct, to ensure that employees are well informed and adhere to it as a guiding framework together with the Bank’s employee rules and policies.

Processes and Guidelines

The Bank strictly prohibits all levels of executives and employees from claiming, engaging or accepting acts of corruption for the benefits of themselves, families, friends, and acquaintances by establishing processes and guidelines for various matters that may lead to corruption such as:

• Receiving and Giving Gifts & Entertainment (hospitality)

  Receiving and giving gifts, business entertainment (hospitality) or providing benefits in any other manner must be proceeded carefully and cautiously to ensure that acts of both receiving and giving are reasonably executed with appropriate value which do not lead to corruption and must not be the situations that may portray the image of inappropriate payments.

• Charitable Donations and Sponsorships

  Charitable donations must be executed with transparency, not contrary to morals and legal, including not being an action that causes damage to the public society, and provided financial support must not be executed in order to give the Bank unfair competitive advantages.

• Loan Support or Business Partnerships.

  Thai Credit has no policy to support credits or do businesses with entities or individuals that violate the law, good morals or corruptions.

• Procurement

  The selection of vendors, service providers, contracting parties, and consultants must be based on the principle that the Bank must receive the maximum benefit under a selection process that is transparent, honest, without bias, checkable and employees are strictly prohibited from receiving any benefits from selected ones.

• Political Contributions

  The Bank has no policy to directly or indirectly provide political contributions or support.

• Hiring Government Official

  The Bank specifies qualifications of an employment candidate that the person shall not hold a position of political official or an election candidate for a member of the House of Representatives, senator, member of the Bangkok Metropolitan Council, member of the Provincial Council, member of the Municipal Council or any other Provincial Administrative Organization. Besides, the qualifications of the candidate must be in accordance with laws and regulations of the supervisory authorities of the Bank.

• Conflict of Interests

  The Bank has a policy to prevent conflict of interests, specifying the guidelines such as:

  • Directors, executives, and employees of the Bank must not act in any manner that is against the interests of the Bank or subsidiaries, or an exploitation for personal or related person’s benefits.
  • Transactions between the Bank or its subsidiaries and directors, executives, or related persons shall comply with laws, notifications and policies related to related party transactions or connected transactions.
  • Not using the information acquired from the Bank or its subsidiaries except for the information which has already been disclosed to public.

The Bank has a policy of not demoting, penalizing, or imposing negative consequences on employees who refuse to engage in corruption, even if such actions result in losing business opportunities

Risk assessment

The Bank has an assessment of risks that may cause corruption and establishes the reporting of issues related to corruption risks in order to manage the occurred risks and report these risks in accordance with prescribed risk management policies and procedures.

Penalties

All directors, executives, and employees must strictly adhere to this policy. Any violation or non-compliance with this Anti-Corruption Policy is considered to be a breach of discipline and will be subjected to disciplinary measures in accordance with relevant rules, policies, orders, notices, notifications and laws, regulations or other related requirements.