Ameriabank is developing its corporate governance system in compliance with high international standards to ensure the utmost efficiency of the Bank operations and increase the confidence of our shareholders, partners and clients towards the Bank.
Being committed to the best practice the Bank’s corporate governance structure ensures the necessary checks and balances for effectively managing the relationship between the executive management, the Board and shareholders. The Bank’s corporate governance include the following bodies: the General Meeting of Shareholders (GMS), which is the supreme governing body, the Board of Directors, the Board Committees and the Management Board.
Key Highlights of corporate governance development at Ameriabank:
- Institutionalization of board committees and involvement of independent Board members: Ameriabank is the first Armenian bank that introduced the institute of independent board directors. In October 2012 Robert von Rekowsky joined the Board of Directors as an independent director. Pursuant to the international best practice of public companies, in 2016 three new board level committees were established to support the Board: Audit Committee, Remuneration Committee, Corporate Governance & Nomination Committee.
- Comprehensive supervision and control systems with Operational Control Unit and the Internal Audit Service reporting to the Board Audit committee and Board of Directors.