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Statement of the Supervisory Board of JSC “Ukreximbank”

Dear Clients and Partners!

In the time of crisis, the Bank understands the financial difficulties businesses need to endure due to the imposed restrictive measures.

The Supervisory Board welcomes open communication by the Bank’s clients and is ready to attend to any matters brought to the attention of the Supervisory Board through the Bank’s official communication channels. The Bank is content to support its clients on the path of smooth recovery and urges the clients to start the official and transparent communication with the appropriate Bank’s governing bodies as soon as possible.

The Supervisory Board reminds that it is of the direct competence of the new Management Board of Ukreximbank to solve current business affairs in a way that defends both the Bank’s and the client’s interests. The Supervisory Board provides continuing support to the Management Board in them doing so.

It is important to note that the control over the efficiency of Bank’s Management Board is the exclusive competence of the Supervisory Board of the Bank, not the shareholder or any other political body.

The Supervisory and the Management Boards of the Bank are guided by the G20/OECD Principles of Corporate Governance, Corporate governance principles for banks of Basel Committee on Banking Supervision, the Law of Ukraine “On Banks and Banking” and the NBU recommendations on corporate governance, which provide for the clear division of powers between the Bank's governing bodies.

The report on corporate governance for 2019, which describes in more detail the existing system of corporate governance and decision-making by the Bank, is also available for your perusal – please refer to page 15 of the report available via the following link:

The key principles guiding both Boards are Duty of care, i.e., to approach the affairs of the company the same way that a “prudent person” would approach his or her own affairs, and Duty of loyalty, i.e., to act in good faith in the interest of the Bank.

For ease of reference, the Basel Committee on Banking Supervision defines them in more details as follows:

“Duty of care” – the duty of the Board members to decide and act on an informed and prudent basis with respect to the bank; and

“Duty of loyalty” – the duty of the Board members to act in good faith in the interest of the company. The duty of loyalty should prevent individual board members from acting in their own interest, or the interest of another individual or group, at the expense of the company and shareholder.

Please refer your questions and/or requests to Corporate Secretary of the Supervisory Board:, as well as the address for correspondence: 03150, Kyiv, 127 Antonovycha street.