Corporate governance is a system of interrelationship among Management, Supervisory Board, shareholders, employees and other interested parties including creditors, with the purpose of provision of balance of their interests and creation of effective activity of the Bank as well as provision of competitive service.
Corporate governance as a system creates security mechanism of interests of all economic agents. Implementation of appropriate corporate governance principles provides for proper security of investors’ rights.
Corporate governance practice is one of the essential factors which determine ability of the Bank to enter internal and external capital markets.
Appropriate corporate governance is built on principles of transparency, accessibility, operability, regularity, completeness and reliability of the information at all levels.
Compliance of corporate governance standards helps to improve decision making process which may have considerable influence on effectiveness of financial and economic activity of the Bank at all levels.
Conception of appropriate corporate governance also includes usage of ethical standards of business running, sense of responsibility with respect to shareholders and taking into consideration needs of the society where the Bank implements its activity.