Corporate Governance and Best Practices

In 2018 mBank was subject to corporate governance principles contained in the following documents:

  1. Code of Best Practice for WSE Listed Companies 2016
  2. Principles of Corporate Governance for Supervised Institutions

Corporate governance is a range of activities and regulations aimed at achieving a proper balance between the interests of all entities engaged in the functioning of the company (investors, governing bodies, employees, suppliers) that stimulates corporate growth.

The principles of corporate governance for public companies issuing shares, convertible bonds or bonds with preemptive rights which have been admitted to trading on the Stock Exchange were for the first time approved by the Warsaw Stock Exchange in a document entitled “Best Practices of Public Companies 2002” in September 2002. The document set out the basic principles of “business ethics” which should be observed by a listed company in its everyday operations. The present version: “The Rules of Best Practices in Public Companies 2016” came into force on 1 January 2016. mBank declared to apply the ”Best Practices” from their introduction. This is also true of the present  version “ Code of Best Practice for WSE Listed Companies 2016””.

According to the  information requirements, mBank will report only in the event of the Bank’s permanent non-compliance with a rule or its incidental breach. Reports will be forwarded to WSE and published on the company’s website. Additionally the Bank  publishes annually since 2007 the reports on compliance with the corporate governance rules.

The “Principles of Corporate Governance for Supervised Institutions” approved by the PFSA on July 22, 2014 have been in effect since January 1, 2015. They cover relations with shareholders and clients, issues relating to the organisational structure, ensuring an effective and efficient internal control system, as well as the risks of business activities. mBank has adopted the “Principles of Corporate Governance for Supervised Institutions”, excluding the principles laid down in Article 8 (4) and Article 16 (1).

Statements on application of corporate governance at mBank

Additional information

 

The scheme of division of competences among the Members of the Management Board

more about The scheme of division of competences among the Members of the Management Board
 

Committees of the Management Board of the Bank

more about Committees of the Management Board of the Bank
 

Committees of the Supervisory Board

more about Committees of the Supervisory Board
 

Detailed information on mBank Management Board and Supervisory Board

more about Detailed information on mBank Management Board and Supervisory Board

Auditor

Pursuant to a Resolution no. 32 of the XXXIII Ordinary General Meeting of mBank S.A. dated March 28, 2020, Ernst & Young Audyt Polska spółka z ograniczoną odpowiedzialnością spółka komandytowa was appointed as the Statutory Auditor to audit the Financial Statements of mBank S.A. and the Consolidated Financial Statements of mBank Group for years 2020- 2022.