G1

Board – separation of powers

Bank implements its strategy with the help of layered organisational structure – Supervisory Board – Board – structural units and committees.

Rights and responsibilities of the members of Supervisory Board and Management Board are determined in the internal rules and regulations of the Bank. Each Member of the Supervisory Board and Management Board has specific responsibilities. Management Board is the executive institution managing the Bank. Chairperson of the Management Board participates in the meetings of the Supervisory Board. He can also participate in the work of committees and manage them.

G4

Fair labor practices

Policy of the Bank is to encourage employees to be open and express their opinion how the Bank can improve its working conditions. Each year employee survey is organised, presenting results to the board to decide upon improvements. Also employees are informed about the survey results.

Bank cares for the work environment. Every year work environment risks are evaluated and team-building events take place. Once a year all employees are instructed about fire safety and occupation safety risks. There is a mandatory health check for every employee. Bank partially compensates purchase of optics for the office employees.

Employee evaluation system is introduced, – to stimulate employees, clarify their goals and real performance results forming a base for honest remuneration.

In 2017 and 2018, Bank was recognized for its sustainable and socially responsible activities – Bank acquired the Family friendly business status, being placed amongst 31 Latvian companies implementing family friendly entrepreneurship principles in its daily operations. We are proud that we are a good employer and sustainable partner for our clients!

G6

Ethics code of conduct

Bank has adopted a JSC Baltic International Bank Corporate Ethics Code (Code) with the purpose to promote the corporate and employee’s conduct that are ethical according to the general ethics principles and directed towards achievement of the Bank’s short-term and long-term strategic goals. Code determines Bank’s corporate conduct principles and ethical norms of the behaviour of the employees of the Bank, including in the prevention of the conflict of interest and corruption.

Code defines the corporate values of the Bank, sets high professional conduct and ethical standards, in order employees could perform their responsibilities with the highest integrity, maintain objective approach in the fulfilment of their obligations and decision making, adhere to the compliance rules, regulations and standards, respect confidentiality and business secret of the transactions and customers, implement high ethical standards in their operations and behaviour.

G8

Tax transparency

Bank strictly adheres to the laws and tax policy of the Republic of Latvia. The Bank is acting responsibly in maintaining its obligations towards the state adhering both to the letter of the legislation and rule of law. The Bank is open for cooperation and maintains a constructive dialogue with state institutions. Bank strengthens mutual trust and facilitates long-term relationships.

Bank publishes its annual reports with the financial data. The experienced specialists who keep track of changes in the national tax policy implement the Bank’s tax policy.

Taxes paid by the Bank are published in the State Revenue Service (SRS) website. Bank does not have SRS administrated state social security and personal income tax debts. MF (Ministry of Finance) and SRS (State Revenue Service) have granted Golden status to the Bank, attesting the transparency of its operations and fulfilment of all tax liabilities in good faith.

Bank cooperates with external auditors to ensure independent control.