25.7. Credit risk

The Group’s credit risk management objective is defined as supporting business growth while minimising financial risks by ensuring that customers and partners are always in a position to pay amounts due to the Group.

The main function of the Credit Committee under the control of the Board Member in charge of Finance is to coordinate and consolidate credit risk management activities across the Group, which involve:

• clients’ risk assessment,
• monitoring clients’ business and financial standing,
• managing accounts receivable and bad debts.

The policies and rules regarding consolidated credit risk management for the Group were approved by the Credit Committee.

There is no significant concentration of credit risk within the Group.

Further information on credit risk is discussed in Notes 14.1, 14.2, 22, 23.