The corporate governance policy is focused on a commitment to the principles of sustainable development, economic efficiency, financial health, and responsibility towards clients, the community, and the economy in which the bank operates, as well as its employees. In order to establish high standards and achieve good corporate governance, transparency in business operations as a foundation for protecting shareholders, investors, and other stakeholders, and care for workers and sustainable development, the Bank adheres to the following principles:
- Respect for ESG standards
- Transparency of operations
- Protection of shareholder rights
- Clearly defined authorities and responsibilities of the Bank's bodies
- Cooperation between the Management Board and the Supervisory Board, as well as transparency of relationships between all Bank bodies, employees, shareholders, clients, and the public as a whole
- Efficient internal control system
- Compliance with anti-money laundering and counter-terrorist financing standards
- Compliance with data protection standards
- Prevention of conflicts of interest
- Implementation of anti-corruption policies
Sustainable development is the foundation of good business governance and increased competitiveness. It involves the process of considering and taking into account environmental, social, and governance (ESG) factors, as well as serving as a strategic directive for the Bank. The Bank aligns the impact of its operations with the United Nations Sustainable Development Goals.
The Bank implements high standards through its Code of Ethics and Business Code, which promote a culture of integrity. Additionally, the Sustainability Committee has been established to ensure the adequate, efficient, and comprehensive management of financial health, sustainability, and the Bank's approach to managing climate and environmental risks.
The Bank implements the sustainability concept through three spheres of action:
a. Environmental (E)
b. Social (S)
c. Governance (G)
a. Environmental Factor Management - The Bank is focused on environmentally sustainable initiatives that bring efficiency, value, and health to its operations, employees, clients, and the broader community.
b. Social Factor Management - The goal of the Bank is to establish and expand relationships with employees, clients, the community, investors, and suppliers.
c. Governance Factors - The Bank establishes mechanisms for oversight and risk management to ensure resilience and the long-term preservation of value for its operations. Special attention is given to the process of proper risk assessment and timely identification of risks, which serves as the basis for making business decisions. The Bank maintains corporate governance practices through exemplary management and accountability of the Board of Directors, Supervisory Board, and senior management. The Bank ensures a clear, transparent, and documented decision-making process with defined responsibilities and authorities. The Bank implements high standards through its Code of Ethics and Business Code, which promote a culture of integrity. The Bank defines standards and regular controls in all relevant business processes to identify and prevent potentially illegal or unethical practices. The Bank continuously improves data management systems to ensure timely, relevant, and transparent financial and non-financial reporting. The Bank transparently, accurately, and promptly discloses information about its operations.