Page 15 - CCB_Annual Report_2022

14 Strategic Report 15

Investing in

infrastructure

to accelerate Stakeholder Description Engagement

customers’ access Shareholders The Bank has two Both shareholders have Non-Executive Director representatives
on the Board and Board sub-committees and are therefore fully
shareholders each
to finance holding 50% of the involved in the decision making of the Bank.
Bank’s ordinary In addition, Board members meet with both Shareholders outside
share capital
of Board meetings on a regular basis to enable the Board to
understand the Shareholders expectations.

Customers The Bank has The Bank undertakes regular activity to gather customer feedback.
around 9,000 The results of which are shared with staff and the Board, and
We have a simple and deposit customers incorporated into its future business development plans.
proven Business Model and 1,500 lending The Bank engages with lending and deposit intermediaries who
customers
introduce business to the Bank as well as having regular dialogue
with customers.
Distribution network
Customer support remains a key strategic priority for the Bank in its
Cambridge & Counties Bank provides response to the current economic uncertainty.
lending products through a network
of relationship managers who deal via During the year, the feedback from engagement with customers
business introducers as well as directly and intermediaries has been used by the Board to understand
with customers. We seek to be straight the appetite for future development and investment, in core
forward and easy to deal with in our systems and our strategy for developing a green loan or deposit
interactions with introducers and deliver product offering.
a banking experience that attracts and
retains customers. The Bank delivers a Employees The average The Bank undertakes an annual internal staff survey as well as
range of savings accounts via the internet, number of people participating in industry wide culture surveys undertaken by the
post, and savings intermediaries. employed by the Financial Services Culture Board (FSCB). We continue to record
Bank during the consistently high participation rates in our employee engagement
Lending Section 172 Companies year was 206 survey (73%) and record strong scores.

The Bank’s commercial real estate loans Act 2006 Statement The Bank has a staff forum which meets monthly and is chaired by
are secured on property. We lend to the Bank’s CEO. As a result of staff feedback at the staff forum, we
experienced commercial and residential have introduced new green benefits. We have introduced a salary
property investors as well as to owner Statement by the directors in sacrifice for the purchase of electric cars and are implementing
occupied businesses to invest in their own performance of their statutory duties a similar scheme for electric bicycles. The Board reviews the
commercial premises. employee staff survey results and receives regular reports from the
The Board of directors of Cambridge CEO on the activities of the Employee Forum.
The Bank provides finance for businesses & Counties Bank Limited consider, both
to acquire essential assets such as individually and together, that they have The Board approved a one-off payment in July of £1,000 for all
equipment, plant, machinery, and vehicles, acted in the way they consider, in good employees (below Executive level) to help support staff with the
using hire purchase and finance lease faith, would be most likely to promote the current increased cost of living expenses such as energy and food.
facilities. The Bank also provides finance success of the company for the benefit During the year the Board has had regular updates on employee
for the purchase of classic cars using hire of its members as a whole (having regard issues, including the effectiveness of the Bank’s hybrid
purchase and finance lease products. to the stakeholders and matters set out in working practices.
s172(1) (a-f) of the Companies Act 2006)
Deposits in the decisions taken during the year Suppliers Business and Management regularly meets with the Bank’s key suppliers,
ended 31 December 2022. individuals who particularly those providing important business services and
The Bank’s lending is primarily funded by
the acquisition of UK savings balances. We Stakeholder engagement provide services and information technology systems.
offer a range of deposit accounts that are goods which the The Bank pays over 95% of suppliers within 30 days and is planning
available directly to business customers. The Bank has maintained regular Bank uses to deliver to further improve its supplier payment process in 2023 with the
These accounts are also available to retail dialogue with all its key stakeholders its products to its implementation of a new purchasing system. The Bank is also
customers through a network of Deposit throughout the year. The table below sets end customers actively engaging with property valuers to incorporate their views
Intermediaries. Business customers include out the Bank’s key stakeholders and the on climate change considerations into the Bank’s lending protocols.
several broader organisations such as main methods by which the Board and
charities, clubs, societies, and associations. management engage.