Business Continuity Policy

1.0 Introduction

PremiumTrust Bank is positioned to serve all her stakeholders, especially the custom-ers by providing the best financial services leveraging technology and digital solution. In a bid to achieve this, the Executive and Senior management of the bank recognises the need to ensure that its business operates smoothly and without interruption for the benefit of its customers, shareholders and other stakeholders

To provide such a level of continuous operation, PremiumTrust Bank is committed to implementing and embedding best practices and standards of a Business Continuity Management System (BCMS) in line with the International Standard for Business Con-tinuity Management, ISO22301.

Business Continuity Policy Statements

• The Board and Management of PremiumTrust Bank with Head Office located at Plot 1612 Adeola Hopewell Street, Victoria Island, Lagos, Nigeria, which op-erates in the financial services sector, are committed to preserving a defined level of Business Continuity and continual improvement of the bank’s Business Continuity Management System (BCMS)
• PremiumTrust Bank’s Executive Leadership is committed to developing busi-ness continuity capability as a strategic asset comprising adequate resources and capabilities; including approvals of appropriate budget where required to achieve the required Recovery Time Objectives (RTO) and Recovery Point Ob-jectives (RPO).
• Business continuity capabilities are Incident Response, Crisis Management and Business Continuity Management (BCM) which includes IT Disaster Re-cover
• Every critical activity within PremiumTrust Bank’s Head Office operation will be owned by a designated process owner (Unit Head, Team leads or Head of De-partment. The department head will ensure that plans for maintaining a mini-mum and defined acceptable standard of service are in place for each critical activity, including in situations of disruptions or disaster
• The Scope, boundaries, and exclusions to the Business Continuity Manage-ment System (BCMS) are defined in the “Context, Requirements and Scope” document.
• The criteria for the type and scale of incident to be addressed is covered in the Incident/Crisis Management Plan
• PremiumTrust Bank shall establish, maintain, test, and validate the capability and readiness to cope effectively with any incident and disaster that may occur
• The Bank shall conduct internal and external audits in relation to business con-tinuity.
• The Policy ensures commitment to continual improvement on business conti-nuity management
• The Chief Risk Officer (CRO) or anyone acting in this capacity is the owner of this document and is responsible for ensuring that this policy document is re-viewed, approved, and reapproved in the event of significant changes and/or incidents.
• The Policy shall be hosted on the intranet/a shared folder and made accessible to all employees within the Bank as well as other external stakeholders
• The bank shall ensure that all applicable legal, regulatory, and contractual re-quirements relating to Business Continuity Management are identified and tracked for compliance.