The Board permanently promulgates the main policies governing the Bank. This includes, among others, commercial and development strategies, budgeting management and shareholder’s equity position, portfolio diversification, credit, financial, operational as well as domestic and international market risk management, profitability, allowances coverage, quality of service and customer service, and labor conditions of the team members of the Bank and its subsidiaries.
On a monthly basis, the Board receives a comprehensive account on management and corporate results, in addition to periodic reports on matters examined and approved by the different committees of the Bank.
The Committees, comprised of Directors, hold meetings on a regular basis and in different frequencies. Their nature, functions and activities are determined by both the needs of the Bank and by regulatory demands.
(*) Chapter contained in the Annual Report 2020