Corporate Governance

The policy regarding the management framework of the Bank and its subsidiaries defines the key principles which should be applied in order to ensure an adequate management and supervision, corresponding to the structure, activity and risks related to the Bank and considering the nature, the dimension and the complexity of the risks the Group and its subsidiaries is exposed.

The management framework of the Bank and its subsidiaries refers to the responsibilities of the management body from the following points of view of:

  • Set-up of business objectives;
  • Set-up risks strategies and risk profile;
  • Set-up the Bank activity management, by including adequate responsibilities and limits of authority, reporting lines;
  • Set-up of the Internal Control framework;
  • Set-up the administration structure of the subsidiaries that best contributes to the exercise of the supervisory function at the group level.

The general framework of the Bank and its subsidiaries is organized according to, but not limited to:

  • The Government Emergency Ordinance No. 99/2006 regarding credit institutions and capital adequacy (the Banking Law), approved by Law No 227/2007, as subsequently amended and supplemented;
  • The Law No. 31/ 1990 regarding companies, republished, with further amendments and supplementations;
  • Articles of Association of the Bank;
  • The NBR Regulation No. 5/2013 on prudential requirements for credit institutions.

For running its operations under the management framework, the Bank and its subsidiaries operate by means of a specific internal regulations system (strategies, policies, norms, procedures, etc).

The management framework of the Bank includes at least the following:

A. the organisational structure of the Bank and the allocation of the functional responsibilities within it, as well as its position within its Group and the NBG Group from the perspective of the relevant structures and their reporting lines;
B. the responsibilities of the management body of the Bank;
C. the internal control framework of the Bank;
D. the internal regulatory framework of the Bank.