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Unibank focuses on ensuring effective, transparently structured corporate governance, aiming at implementing the best practices. The Bank’s corporate governance policy is designed to ensure the independence of the Board, its ability to effectively supervise the management activity and to have good relations with shareholders.
Both the Board and Executive Board are supported by the Committees which make recommendations on matters delegated to them, particularly in relation to internal control, risk, financial reporting, and remuneration matters. This enables the management to spend a greater proportion of its time on strategic, forward looking agenda items. The Corporate Governance Guidelines are adopted by the Board. The compliance with the provisions of the Guidelines is closely controlled by Internal Audit Unit as well as the committees under the Board and Executive Board within their authorities. For better implementation of Corporate Governance the Bank has structured a precise organizational chart, oriented at ensuring transparent accountability on all the levels of management.
Corporate governance guidelines are adopted by the Board of the Bank. Compliance with the guidelines is closely controlled by the Internal Audit Directive as well as various committees under the Board and Executive Board within the limits of their competency. Unibank seeks to establish a corporate culture and a governance culture which will lead to the success of the Bank through regular staff training, corporate events, and establishing common goals in line with the mission of the Bank. The committees include Board members, Executive Board members and other relevant managers of the Bank. Committees are consultative.