Group's Code of Ethics
Within the framework of its 175th anniversary, the Bank reviewed and updated in December 2015 the Group's Code of Ethics implementing structures and Policies that generate high standards of professional conduct and business ethics as well as a high level of corporate governance, while also aiming at the Bank's compliance with the applicable regulatory framework and "best" international practices.
The Code is available on NBG's website in Greek and English ( www.nbg.gr/ Corporate Governance / Regulations & Principles / Code of Ethics).
NBG and Corporate Social Responsibility The Bank's responsible operation is reflected in the Organization's Vision and Key Values, which places special emphasis on Corporate Social Responsibility. The vision of NBG is to maintain its position as a strong bank in Greece, continuing as a key pillar of Greek economic growth.
NBG AND CORPORATE SOCIAL RESPONSIBILITY
National Bank of Greece gives absolute priority to the adoption of international best practices in the corporate governance framework it implements.
NBG's high level of corporate governance is widely acknowledged through its recent double distinctions:
- Best Corporate Governance Greece 2016 awarded by Capital Finance International (CFI), as well as
- Best Corporate Governance Bank Greece 2016 awarded by Global Banking and Finance Review.
Actions such as the recent international open process for recruiting Chairpersons for the Board of Directors and the Audit Committee, and Non-executive Board Members evidence NBG's ongoing endeavor to integrate best practices in the procedures implemented and to promote transparency.
Focusing on continuous upgrading and ongoing assessment at all levels, NBG has taken actions such as the establishment of detailed procedures for the annual evaluation of the Board and its Committees, the installation of IT equipment in the Boardroom and a specialised BoD Secretariat application (Board Pad), the launch of a special induction program for new Board members, and the systematic monitoring and provision of guidelines to the Group companies.
The key Corporate Governance practices and policies that are aligned with NBG activities and ensure transparency and effectiveness of operations are the following:
• Nomination Policy for Board Membership
• Policy & Procedures for the Evaluation of the Board of Directors
• Conflict of Interest Policy for Senior Executives
• Code of Ethics
• Code of Ethics for Financial Professionals
• Whistle-blowing Policy
• Anti-bribery Policy
• Anti-fraud Policy
• AML/CFT Policy
• Remuneration Policy
• Corporate Social Responsibility (CSR) Policy
• Policy on Donations, Sponsorships, Charity Contributions and other Relevant Actions
Further information on the Group's key Principles and Rules are available on NBG's website (https://www.nbg.gr/greek/nbg-group-compliance/Documents).
In addition, the Compliance Unit's webpage on the Intranet contains all material (training presentations, policies, codes, links to regulatory authorities' websites) necessary for the staff's effective awareness of subjects such as:
• Corporate Governance
• Consumer and Data Protection
• Banking Secrecy
• Prevention of Bribery
• Combating Money Laundering and Financing of Terrorism
• Training
NBG considers the prevention of money-laundering and countering of financing of terrorism (AML/CFT) a top priority, as such activities are contrary to the Bank's fundamental values and principles governing its business operations. In this context, the Bank places emphasis on the provision of specialized AML/CFT training (e-learning, classroom seminars) to its staff in general, depending on the employee's work responsibilities.
Likewise, to combat corruption and financial fraud of any kind, in 2015 the Bank continued to provide training programs on preventing fraud and corruption, attended by a large number of NBG staff, including new employees. Also, a special seminar on Financial Fraud was attended by many Inspectors of the Bank. Furthermore, a special e-learning seminar on the implementation of the Code of Ethics was launched, mandatorily attended by all Bank employees.
