We conduct our business taking into account the interests of all stakeholders, as long as these interests are not in conflict with those of the bank. We set out clear procedures for managing conflicts of interest in the ”General Code of Conduct” and the ”Conflict of Interest Policy” updated in 2021.
We comply with all the requirements of the updated good practices on the management of conflicts of interest and related party transactions.
- The bank applies the principle of equal treatment of the bank’s customers and suppliers. No shareholder receives preferential treatment in transactions with related parties.
- The Supervisory Board has the option to consult an external entity when valuing and analysing the economic effects of related party transactions. If the conclusion of such a transaction requires the approval of the General Meeting of Shareholders, the Supervisory Board shall each time assess the need for such an opinion.
- Members of the Management Board and Supervisory Board shall avoid professional activities that may lead to conflicts of interest. They may not take part in the resolution of matters where a conflict of interest has arisen or may arise and are obliged to inform the bank of any such situations.
The issues of possible conflicts of interest of members of the Management Board and Supervisory Board are also examined as part of the suitability assessment prior to their appointment to serve on these bodies and as part of the regular suitability assessments.
In 2021, no situations of this kind were identified in relation to Members of the Management Board and Supervisory Board.