Corporate Governance
Center-invest Bank has had corporate governance rules and procedures since 2004, including codes of corporate conduct and ethics, and policies for specific areas of the business.
The governance of Center-invest Bank complies with Russian legislation and Bank of Russia requirements, takes into account best international practice, and is based on the recommendations of international organisations, in particular, the Basel Committee on Banking Supervision.
The purpose of the bank’s corporate governance is to protect the rights and interests of shareholders, ensure effective management and transparent relationships between the bank’s shareholders, Board of Directors and executive bodies, and deliver a long-term increase in the value of the bank’s shares.
The bank’s corporate governance is based on the following principles:
Accountability: The Code of Corporate Conduct establishes the accountability of the Board of Directors to the bank’s shareholders and provides guidance to the Board of Directors when developing the bank’s strategy and managing and monitoring the activities of the executive bodies.
Fairness: The bank undertakes to protect shareholders’ rights and ensure equal treatment of all shareholders, including minority and foreign shareholders. The Board of Directors shall afford all shareholders effective protection should their rights be infringed.
Transparency: The bank shall provide timely and reliable disclosure of information about all material facts relating to its activities, including its financial position, results, ownership and governance structure, as well as free access to such information for all stakeholders.
Responsibility: The bank recognises the rights of other stakeholders in accordance with the law and other regulatory requirements.;
In addition to our Code of Corporate Conduct and Corporate Ethics Code, we have policies for specific areas of our business. These include:
- Information Security Policy
- Internal Control and Compliance Policy
- Environmental and Social Policy
- Liquidity Management Policy
- IT Policy
The bank complies substantially with the principles and recommendations of the Code of Corporate Governance approved by the Bank of Russia (Bank of Russia letter No. 06-52/2463 of 10.04.2014 on the Code of Corporate Governance).
Center-invest Bank has an Anti-Corruption and Anti-Fraud Policy, which must be adhered to by all employees of the bank and its subsidiaries, irrespective of their position and job functions. All existing employees have been informed of the Policy and it is mandatory for all new employees to be informed of the Policy also. The Board of Directors and Executive Board lead by example, with a zero-tolerance approach to any instances of corruption and fraud.
Center-invest Bank will continue developing and enhancing its corporate governance practices in accordance with the recommendations of the Code of Corporate Governance, based on analysis of the scope to apply new practices in the bank.