Corporate governance

Corporate governance

Corporate governance of OJSC "Keremet Bank" is based on respect for the rights and legitimate interests of its shareholders and contributes to improving the bank's management efficiency, increasing the value of assets, maintaining financial stability, increasing labor productivity and increasing human capital.

Corporate governance of bank is based on the "Regulations on Corporate Governance in Commercial Banks of the Kyrgyz Republic approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated May 17, 2017 No. 19/12".

Corporate governance is a system of relations between the shareholders, the Board of Directors and the Management Board of the bank in terms of:  

  • determining the strategic goals of the bank's activities, ways to achieve them, and monitoring the achievement of these goals; 
  • creation of incentives for labor activity, ensuring that the management bodies and employees of the bank perform all actions necessary to achieve the strategic goals of the bank's activities; 
  • achieving a balance between the interests of the bank's shareholders, its creditors, including depositors, and the bank's stable development; 
  • ensuring compliance with the legislation of the Kyrgyz Republic, as well as internal documents of the bank. 

The main components of effective corporate governance in the banks are:  

  • distribution of powers, competence and accountability between the management bodies of the bank, organization of effective activities of the Board of Directors and the Management Board of the bank; 
  • defining and approving the bank's business development strategy and monitoring its implementation; 
  • preventing conflict of interest; 
  • definition of professional ethics standards and compliance with them; 
  • ensuring transparency of the bank's activities. 

The supreme governing body of the bank is the general meeting of shareholders.

The Board of Directors is the management body of the bank that provides general management of the bank during the period between general meetings of shareholders.

The Management Board of the bank manages the current operating activities of the bank.

1. Committees of the Board of Directors

2. Risk management system

3. Risk Management Department

4. Internal Audit Department

5. Corporate Secretary