Governance Structure
Nomination and Remuneration Committee
- Nominates and evaluates candidates to the Supervisory Board and Management Board as well as to key holding positions
- Advises the Supervisory Board on the compensation system for the Supervisory and the Management Boards
- Supervises and evaluates the overall implementation of the remuneration Policy and the remuneration practices in the Bank
- Suggest to the AGM the remuneration principles/system and the expenses budget for the Supervisory Board
Shareholders (Annual General Meeting)
Supreme governing body
- Elects Supervisory Board members
- Approves chages to the Charter and capital
- Approves reorganization or any other significant change in the corporate structure
Supervisory board
- Supervisory board consists of 7 members, o/w three members are independent and two members represent the largest shareholder.
- Approves the Bank’s Strategy and supervises the activities of the Bank.
- Appoints the Management Board members.
- Elects external auditor of the Bank.
- Creates specialized Committee.
- Approves “large” exposers and transactions over 10% of the Bank’s assets.
Management Board
- Appointed by the Supervisory Board
- Consists of 7 members in total
- Among them - Chief Risk Officer (CRO)
External Auditor
Current Auditor: PwC, 3 years
Half-year reviews since 2022
Audit Committee
- Reports to the Supervisory Board
- Interacts with the External Auditor
- The Chairman of the Committee is an independent Supervisory Board member
Risks Committee
- Supports supervision of the Risk Management, Develops Appropriate Culture in the Bank and Compliance
- Supports Nomination and Remuneration Committee in evaluation of the remuneration practices applied in the Bank