Corporate Governance of the Bank
In 2014, special focus was given to enhancement of the corporate governance system, its implementation and quality, as well as to the improvement of the internal communication system of the bank.
In the course of the year, all components pertaining to the bank’s corporate governance system underwent integrated assessment for compliance with the Corporate Governance Code recommended by the Bank of Russia (hereinafter referred to as the Bank of Russia corporate governance code), recommendations of the Basel Committee on Banking Supervision (Principles for Enhancing Corporate Governance) and the MICEX Listing Rules.
It was decided to optimise the number of members of the Supervisory Board and reduce it from 17 to 14 directors, and the bank’s Corporate Secretary was appointed, the Bank of Russia Corporate Governance Code implementation scheme was elaborated, new versions of the Charter and by-laws were adopted, considering best practices in corporate governance. In the near future, the implementation of bank’s corporate governance standards on the level of subsidiaries is one of the bank’s key priorities.
Principles, Standards and Norms of Conduct
Norms and regulations pertaining to bank employees’ conduct are based on the bank’s values stipulated in Sberbank’s
The code of ethics holds a special place in the bank’s corporate values. It shapes the bank’s targets and defines the employees’ actions and conduct required in order to achieve them. The bank’s code of ethics and business strategy are to be observed by every bank employee regardless of job title.
Members of the bank’s team are advised to:
- observe high occupational standards and business conduct towards customers, colleagues, shareholders, business partners, representatives of local communities and the state;
- respect national and cultural identity of the countries and regions where the bank operates;
- act strictly in accordance with applicable law in any country of operation;
- fight corruption and other unlawful business conduct;
- advocate and support the spirit of fellowship that will ensure open discussion of any issues related to ethical conduct.