Corporate governance

Our operating principles

Orabank Group has been structured in such a way as to ensure compliance with international best practice and standards. Good governance is a key factor in economic performance and maintaining trust since it enables us to monitor risks and balance interests more effectively.

We have structured our Group to create transparent lines of accountability within the different companies, to avoid conflicts of interest and to ensure that employees, directors and managing directors are responsible for their actions.

Internal Control and Auditing Charter

In accordance with the recommendations of the Basel Committee and regulations on internal control and auditing stipulated by the Banking Commissions, Orabank Group has put in place a streamlined charter that has been designed to meet the requirements for modern and efficient monitoring processes that comply with today’s professional standards.

Our lending and expenditure are governed by a system for delegating powers that defines the levels of responsibility that apply to senior executives and the boards of directors.

Boards of directors

All of our banks have a board of directors. These boards are made up of a balanced mix of independent and executive directors and meet several times every financial year.

Directors are appointed for a 1-year term of office and may be reappointed.

The boards act in strict accordance with the related-party agreements in force.

Management

The Group's executive managers must be approved by the appropriate regulatory authorities and are monitored by the board of directors. They must report to the board on their actions and the consequences of these on a regular basis. They are responsible for the following :

• implementing strategies and policies that have been approved by the board of directors;
• developing procedures that enable the Group to identify, measure, monitor and manage the risks to which our banks are subject;
• maintaining an organisational structure that clearly establishes reporting relationships and lines of authority and responsibility;
• ensuring that delegated responsibilities are effectively discharged;
• putting in place appropriate internal control policies;
• monitoring the adequacy and efficiency of internal control systems.

Employees

Employees can directly alert the Group's managers, directors or shareholders of any anomalies that they notice, particularly with regard to ethics, without fear of reprisals or sanctions.