Kubanbank utilizes a modern approach to corporate governance, from its shareholder relations through its Board of Directors and operational management.

 

General shareholders meeting

General shareholders meeting is the highest level of oversight in Kubanbank. Its decisions cover the major issues in Kubanbank, including:

• Introducing changes to Kubanbank’s Charter and approving a new edition of the Charter
• Electing new members to the Board of Directors
• Choosing an auditor
• Approving annual financial reports
• Setting dividend policies
• Deciding on a restructuring or liquidation of Kubanbank

The Board of Directors

The Board of Directors oversees the activities of the President in Kubanbank. In its capacity, the Board of Directors is legally protected by the laws of the Russian Federation, Kubanbank’s Articles of Association and decisions of Shareholders Meetings.

The main functions of the Board are:

• Setting Kubanbank’s business strategy
• Hiring and dismissing the President
• Establishing policies directed at maximizing Kubanbank’s profitability
• Preparing for Shareholders Meetings

President

The President reports directly to the Board of Directors, by whom he is chosen, and ultimately to the General Shareholders Meeting. The President oversees the day-to-day activities of his management team as they strive to accomplish the objectives set by the Board of Directors.

Management

The Management team is responsible for the Bank's operations. Its authority is derived from the Bank’s Articles of Associations, the Shareholders Meeting, and the Board of Directors. The Management team reports directly to the President.

The following issues fall under the responsibility of Management.

• The Bank’s day-to-day operations
• Implementing policies that pertain to the Bank’s core activities, including:  risk and liquidity management, credit policies, deposits, customer service, financial reporting, human resources, intrabank controls, reserve creation and classification, and legal compliance and rules
• Together with the President, the Management team is responsible for the Bank’s financial health
• Developing recommendations focused on maximizing profitability