Pursuant to principle 3.2.3 of the Banking Code the members of the Managing Board of GarantiBank International N.V. have signed a declaration on moral and ethical conduct. This declaration forms a guideline for the behaviour of the members of the Managing Board and all of the bank’s employees, and reads as follows:
“I declare that I will perform my duties as a banker of GarantiBank International N.V. (“the Bank”) with integrity and care. I will carefully consider all the interests involved in the bank. I will carefully consider all the interests involved in the Bank, i.e. those of the clients, the shareholders, the employees and the society in which the Bank operates. In this consideration, I will give paramount importance to the client’s interests and inform the client to the best of my ability. I will comply with the laws, regulations and codes of conduct applicable to me as a banker. I will observe secrecy in respect of matters entrusted to me. I will not abuse my banking knowledge. I will act in an open and assessable manner and I know my responsibility towards society. I will endeavour to maintain and promote confidence in the banking sector. In this way, I will uphold the reputation of the banking profession.”
In its annual report GarantiBank N.V. reports the manner in which it applied the principles of the Banking Code in the previous year, providing a substantiated explanation – where applicable – of why a particular principle may not have been applied, either partly or in full.