In accordiance with the Corporate Governance Code of XacBank, the Bank defines corporate governance as a set of structures and processes for the direction and control, which involves a set of relationships between the Bank’s shareholders, Board of Directors (the “Board”), and executive bodies with the purpose of creating long-term shareholder value.

The Bank’s corporate governance framework is based on the following principles:

General Governance Structure:

• The General Meeting of Shareholders (the “GMS”) is the highest governing body of the Bank which allows the shareholders to participate in the governance of the Bank.
• The Board is entrusted with guiding the Bank’s strategic path and overseeing its management. The Board is mandated to form committees on audit, risk management, and corporate governance nominations & remuneration.
• The Chief Executive Officer (the “CEO”) and his/her team carry out the day-to-day management of the Bank and implement the strategy set by the Board and the shareholders.