Corporate governance
Sparebanken Vest is a savings bank, incorporated in accordance with and governed by Norwegian law. Good corporate governance in Sparebanken Vest includes the goals and overarching principles by which the bank is managed and controlled in order to safeguard the interests of customers, equity certificate holders and other groups in the bank.
Credibility and trust are created through good corporate governance
Sparebanken Vest seeks this trust and credibility through a healthy business culture and high ethical standards with employees and trustees. A clear division of roles and responsibilities between the General Meeting, the Board of Directors and the CEO is the basis for quality assurance of decisions. The bank has drawn up ethical rules for employees and trustees.
Control and management structure
Sparebanken Vest is organized in accordance with current legislation.
The General Meeting, as the highest body, consists of representatives from equity certificate holders, customers/depositors, publicly appointed representatives and the bank's employees. The General Meeting must ensure that the bank operates according to its purpose in accordance with the law and the bank’s Articles of Association.
Sparebanken Vest's principles for corporate governance must ensure that corporate governance is in line with general and recognized principles and standards, as well as the legal framework. The aim of the principles is to ensure a good interaction between the bank's various stakeholders such as equity certificate holders, lenders, customers, employees, governing bodies, management and society at large.
Sparebanken Vest annually submits an account of its principles and practice on corporate governance in line with the Accounting Act § 3-3b and the recommendation of the Norwegian Corporate Governance Board (NUES recommendation) in force at all times. The annual report contains an account of how the 15 items in the NUES recommendation have been followed up in the bank.