Internal Audit

The internal audit of the Group has been set up as an independent unit within the parent company. The unit consists of a manager and four staff members. The parent company's Board of Directors makes decisions on employment and dismissal of the manager of the bank's internal audit, whose terms of employment are approved by the chairman of the Board of Directors.

Every year, the board establishes an activity plan for the internal audit.

The internal audit regularly reports its observations to the Board of Directors, the Board of Supervisors' Controlling Committee, the external auditors and the Financial Supervisory Authority.

The internal audit also examines the activities of the subsidiaries and reports to the boards of each subsidiary.