Access bank Plc tops a financial transparency index survey conducted by Source Capital Research in collaboration with Business Day Media Company Limited.
The financial transparency study was based on combined risk management and corporate governance disclosures in their financial reports for the year ended December 2010.
Fourteen listed banks were analysed by the research team at source capital.
According to the report, when a combination of the overall level of corporate governance and risk management disclosure by the banks was analysed and ranked, Access bank, Stanbic IBTC bank, First City Monument Bank, Ecobank bank PLC and Guaranty Trust Bank were among the top five.
Others include Diamond bank, Zenith bank, Fidelity bank, Skye bank and First bank of Nigeria.
While Access bank topped the index, the bank was found not to have disclosed information such as the compensation policy of the bank as regards its proprietary traders, the level of training its directors have on risk management, concentration risk, and trading portfolio value at risk.
