Corporate governance strategy and policies

  • GRI:
  • Policy commitments2-23
    Policy commitments
  • Embedding policy commitments2-24
    Embedding policy commitments

Corporate governance in the companies that make up the Santander Bank Polska Group lays down rules for the operation of their governing bodies and key systems and processes. It shapes exemplary relations with the shareholders, customers and other stakeholders. The adopted principles build market confidence in the Santander Bank Polska Group and indirectly support the sustainable development and credibility of the domestic capital market. Particular emphasis is placed on the professionalism and ethical profile of the members of the management and supervisory bodies, as well as transparency and due diligence in the conducted operations.

Corporate governance in our Group companies is shaped by legal regulations (including the Commercial Companies Code and the Banking Law), as well as the Corporate Governance Principles for Supervised Institutions of the Financial Supervision Commission. In the case of the bank, the key documents from the point of view of corporate governance are also the Good Practices of Companies Listed on the WSE, the ”Recommendation Z concerning the principles of governance in banks” issued by the Polish Financial Supervision Authority and the Code of Bank Ethics of the Polish Bank Association (also applicable to Santander Consumer Bank S.A.).

A complete description of the bank's corporate governance can be found in the Santander Bank Polska S.A. Corporate Governance Statement for 2023.

In addition, Santander Bank Polska Group has developed and adopted other internal regulations setting out the principles of corporate governance.

The most important are:

  • Corporate Governance Model for the Group and its subsidiaries1,
  • Detailed Corporate Governance Principles,
  • Internal Governance Principles of Santander Bank Polska S.A.,
  • Governance Principles in the Santander Bank Polska Group2,
  • Corporate Governance Principles for Responsible Banking,
  • Responsible Banking and Sustainability Policy
  • General Code of Conduct [pdf, 508KB], detailed regulations and policies, including:
    • Information Policy,
    • Conflict of Interest Policy,
    • Code of Conduct on Securities Markets,
    • Anti-Money Laundering Policy,
    • 5 Principles of Cybersecurity Policy,
    • Anti-Bribery and Corruption Policy (ABC Policy)
    • Policy for Selection and Assessment of Suitability of Management Board Members and Key Executives of Santander Bank Polska S.A.,
    • Policy for Assessing the Suitability of Members of the Supervisory Board of Santander Bank Polska S.A.

The Group’s corporate governance regulations are reviewed annually and amended if necessary. In October 2023, the Sustainability Policy and the Human Rights Policy ceased to be effective. The updated provisions of both of these regulations were included in the Responsible Banking and Sustainability Policy, which replaced these documents and has been in force in the Group since October 2023. In addition, in December 2023, the Anti-Corruption Programme was replaced by the Anti-Bribery and Corruption Policy (ABC Policy).

Our Group’s corporate governance principles are also reflected in the ‘We Help You Achieve More’ strategy adopted in December 2023.

1 Internal document developed by Banco Santander S.A. addressed to its subsidiaries, including Santander Bank Polska S.A.
2 Internal document developed by Santander Bank Polska S.A., which defines the principles concerning the relationship between the Group and its subsidiaries. The Bank, as the Group’s parent company, defines the Group’s governance model to guarantee the required corporate governance and the proper functioning of the control system.