The policy for selection, monitoring and succession planning of management body members sets the general framework regarding the selection, monitoring and succession planning for the members of the management body and ensures that the members of the management body have the adequate ethics, knowledge, skills and professional experience to fulfill their responsibilities

The management body of the Bank, in its supervisory function is represented by the Board of Directors.

The top management is represented by the Senior Managers of the Bank, respectively the General Manager and Deputy General Managers, who are empowered with the current management of the Bank and are accountable for the way of accomplishing this activity in front of management body.

The general rules taken into consideration regarding the selection, suitability assessment and re-assessment of the members of the management body consider both the supervisory function and the management function of the management body within the Bank and refer to:

a) The management body has to have an adequate number of members, including the independent members of the management body in its supervisory function, as well as an adequate constituency, taking into consideration the attributions and responsibilities of the body, in the supervisory function and in the management function
b) It is the Bank's responsibility to assess the suitability of each and every member of the management body, on the occasion of the appointment as a member of the management body and to do the suitability re-assessment ongoing, according to the legal provisions
c) The suitability assessment of the management body members will also take into consideration that the management body be collectively suitable, in terms of the balance regarding the knowledge, skills, diversity, independence and existing/ necessary experience
d) The suitability assessment of the members of the management body will be done, as a general rule, before they hold the respective positions, according to the legal provisions in force
e) The requirement concerning a good reputation of the members of the management body applies regardless the nature, size and complexity of the activity or the position of the respective member in the management body
f) The general criteria for the assessment of the experience of the management body members will take into consideration the nature, size and complexity of the activity, as well as the responsibilities of the respective position, and also the fact that the level, and the nature of the experience required for a member of the management body in the management function may differ from those required for a member of the management body in the supervisory function
g) The selection of the management body members will also take into consideration that they have to be able to act objectively, critically and independently and they must also have the capacity to dedicate time and sufficient effort in accomplishing the attributions they were assigned in an efficient way

The Nomination and Remuneration Committee is responsible for the identification of potential candidates to be appointed as Board of Directors member, for the assessment of the proposed candidates' suitability or the re-assessment of the appointed management body members, as well as for the evaluation and informing of the Board of Director each year regarding the possible instruction needs of the management body members.

The appointment and revocation of the Board of Directors members is the General Meeting of Shareholders' (GMS) responsibility.

The appointment and revocation of the Bank's Senior Managers, is the Board of Directors responsibility.

The appointed members of the management body will be notified to National Bank of Romania (NBR) to be authorized, the exercise of the assigned responsibilities being allowed only after the NBR authorization is obtained.

If following the suitability assessment it is concluded that the person is not suitable to be appointed as a member of the management body, the respective person will not be appointed, or if the member is already appointed, the Bank will take adequate measures to replace the respective member, excepting the case when the Bank has already taken appropriate measures to ensure the suitability of the respective member in a timely manner.

The instruction of the management body members of the Bank refers to their participation in the induction program and in specific instruction programs adapted to the needs of each member.

The instruction programs may be dedicated to each and every member of the management body or to the whole management body, if this is the case.

The diversity policy of the Bank is aligned to the requirements of the national and international regulatory framework and takes into account also the alignment to the NBG Group diversity policy.

In order to ensure the diversity regarding the Board of Directors and the Senior Managers of the Bank, the proposed target is that the female gender to be represented in a ratio of 1/3, taking into consideration the structure and number of the Board of Directors members and of the Senior Managers of the Bank.

For the Board of Directors members and for the Senior Managers whose mandates expire between 2015 - 2017 and for the new members/ Senior Managers to be appointed in the mentioned period of time, the policy refers to the identification of female gender persons having adequate knowledge, experience and competencies to be appointed as Board of Directors members/ Senior Manager, so that the proposed target to be achieved until the end of 2017, and to be maintained.

The identification and selection of the potential successors of the members of the management body will be done by Nomination and Remuneration Committee with the support of NBG Group, according to the criteria stipulated by the policy.