FUIB has built an efficient corporate governance system complying with the law and meeting globally recognised corporate governance standards and practices.

The existing corporate governance pattern ensures high level of business ethics between the Bank’s principal stakeholders and management allowing FUIB to pave the way for excellent reputation and sustainable business success story. Rights of principal stakeholders, relationships between shareholders and a person, transparency, disclosure, equality and objectivity are among the key cornerstones of the corporate governance philosophy of FUIB.

The Bank’s business pattern is based on effective control and risk management functions and timely reaction to changes in laws and regulations. There are documented bank secrecy, commercial confidentiality, and anti-money laundering rules and procedures.

The corporate governance of FUIB is a multi-level system with clearly defined functions, rights and responsibilities at each level. The General Meeting of Shareholders, FUIB’s supreme governing body, makes decisions on the most essential issues of the Bank’s activity.

The Supervisory Board and the Management Board constitute a two-tier management system. Of the two bodies the former ensures protection of the shareholders’ rights, controls and supervises the activity of the Management Board.

The Supervisory Board performs the functions of strategic importance for the Bank’s business activities. Within the framework of its exclusive competence: management and supervision of the executive and control bodies, appointment of executive officers, development of procedures for audit and control of the financial and economic activity, approval of the strategic plan, and annual economic and financial plans.

As an executive collegial body the Management Board is responsible for the day-to-day management of FUIB. The Management Board is accountable to the General Meeting of Shareholders and the Supervisory Board and implements their decisions.

The Internal Audit Service is directly subordinated and accountable to the Supervisory Board. It regularly audits all the activities of FUIB according to the action plan approved by the Supervisory Board.

FUIB prepares financial statements in accordance with IFRS and Ukrainian Accounting Standards and has them audited by an independent auditor.