Corporate Governance

Organizational structure of Signet Bank

Group Corporate Governance

57% of the shareholders of Signet Bank are from Latvia and 35% from the United States of America.

Audit Committee

The purpose of the Audit Committee is to ensure the protection of the interests of the Bank’s shareholders in relation to the preparation of the Bank’s individual and Group consolidated annual reports, their audits and the effectiveness of the internal control, risk management and internal audit function, as far as it concerns ensuring the reliability and objectivity of the annual reports.

The audit committee is directly subordinate to the Bank’s shareholders’ meeting.

Composition of the audit committee:

Michael Bolboni,

Member of the Audit Committee

Irina Pigozne,

Member of the Audit Committee

Sergey Medvedev,

Member of the Audit Committee

Thomas Nekmar,

Member of the Audit Committee

Denis Voloshin,

Member of the Audit Committee

Documentation

Signet Bank’s strategic goals

Availability of financing for local entrepreneurs

Signet Bank’s strategy is focused on serving local entrepreneurs and the companies it owns. In addition to ensuring a return on shareholders’ capital, the bank’s strategic goal is to ensure access to financing for local entrepreneurs for business development.

Products and services with high added value

In its financing solutions, Signet Bank cultivates an individual approach with high added value, as opposed to standardized products and services available on the market. Bond issues are one of the most important products that allow the bank to provide its customers with modern financial solutions. This service allows entrepreneurs to attract financing for increasing their business capacity not only from banks, but also from private and institutional investors, and the terms of this product are more flexible compared to a standard loan.

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