Corporate Governance
The purpose of corporate governance is to help create an environment of trust, transparency and responsibility needed for stimulating long-term investments, financial stability and business integrity all of which support stronger growth and development of a more inclusive society.
In the area of corporate governance, the NLB follows above all the provisions of the Banking Act (ZBan-3) and the Companies Act (ZGD-1) and other Slovenian and EU regulations, as well as the rules and recommendations of the Ljubljana Stock Exchange. Additionally, the NLB as a public limited company also operates in compliance with the Corporate Governance Code for Listed Companies.
The Management Board and the Supervisory Board of NLB d.d. together design the Corporate Governance Policy of NLB d.d., which is the framework for its corporate governance, in which they undertake and publicly disclose to the shareholders, clients, creditors, employees and other stakeholders as a whole how they shall manage and supervise the Bank. This Policy is harmonised with and applicable together with the Corporate Governance Policy of the NLB Group, which lays down the principles and mechanisms of corporate governance in the NLB Group members (except NLB d.d.).
Most important changes to the revised version of the Corporate Governance Policy of the NLB are:
- prime governance guidelines of the bank are defined;
- “Relevant stakeholders” are defined anew;
- chapter on conflicts of interest of members of the Management and Supervisory Board was revised due to changes to the Policy on the assessment of the suitability of the Management and Supervisory Board Members in NLB;
- division of responsibilities between Management and Supervisory Board are more clearly defined;
- updated is the chapter on strategy communication and protection of business secret and inside information for the members of the management and supervision bodies; and
- updated is the chapter on the protection of interests of bank’s employees.
Corporate Governance Policy of NLB d.d. (23. 2. 2023)
With this Policy, the Management Board and Supervisory Board of NLB d.d. undertook that, in its work and operations, NLB d.d. shall follow the recommendations of the Slovenia Corporate Governance Code for Listed Companies, jointly adopted by the Ljubljana Stock Exchange, the Slovenian Directors’ Association and the Managers' Association of Slovenia (adopted on December 2021, valid from 1 January 2022). The said code is publicly available at the website of the Ljubljana Stock Exchange (ljse.si/en/legal-regulations/234). NLB d.d. discloses any deviations from the Code and special elements requested by the banking legislation annually in the Statement of Compliance with the Code. In accordance with the provisions of the fifth paragraph of Article 70 of the ZGD-1, the Corporate Governance Statement of NLB d.d. is also published in a special chapter of the business report within the Annual Report of the NLB Group as well as at the website of the Ljubljana Stock Exchange (SEOnet) and also on this website.