The day-to-day operations of the Bank are run by the executive body represented by the Management Board and the Chairman of the Management Board-CEO. The Management Board consists of the General Director and the members (including Deputy General Director and Chief Accountant). The General Director is appointed by the Board of Directors, while other members of the Management Board are appointed by the Board of Directors upon nomination of the General Director.

 

The scope of the Management Board and General Director’s authorities covers all issues related to daily activities of the Bank (see the Charter), other than those reserved to the sole competence of other bodies defined in the Charter.

 

Management Board resolutions are passed by simple majority of the Management Board members present.