Committees

We have five committees reporting directly to the Board of Directors and have an important role in our corporate governance structure:

Audit Committee  – It is a permanent statutory body consisting of at least 3 members, with a fixed term of office of 3 years, elected by the Board of Directors, which is also responsible for appointing the president of the committee as well as the expert member. The duties and responsibilities of the audit committee are defined in the by-laws and the audit committee’s internal regulations and include ensuring the quality, integrity and independence of accounting practices and ensuring compliance with applicable laws and regulations.

For more information about the Committee, click here.

People and Compensation Committee – It is a permanent statutory body, formed by up to 8 effective members, currently consists of 6 members, elected and dismissed by the Board of Directors, with a term of office of 3 years, one of them being elected the President which will necessarily be a member of the Board of Directors. The duties and responsibilities of the People and Compensation Committee are set forth by applicable law, the Bank’s by-laws and the internal rules of the Committee. The main goals of the committee are to prepare and supervise the compensation policy of the management.

Risk and Capital Management Committee – It is a non-statutory advisory body to the Board of Directors. The Committee is currently composed of 8 members, with a term of office of 2 years. The main duties and responsibilities of this Committee are to promote discussions and decisions on issues related to policies, procedures, methodologies and processes related to integrated risk and capital management and the Capital Plan and to validate risk and capital management policies and our capital plan.

Strategy & Innovation Committee – It is a non-statutory advisory body to the Board of Directors. The Committee is currently composed of 9 members, with a term of office of 2 years. The main duties and responsibilities of this Committee are to define the company’s main long-term strategic courses, to monitor the Bank’s adherence to the strategic goals and to evaluate investment/M&A recommendations that are presented by the executive officers.

Corporate Governance Committee  – It is a non-statutory advisory body to the Board of Directors. The Committee is currently composed of 8 members, with a term of office of 2 years. The main duties and responsibilities of this committee are set forth by the committee’s internal regulations, including supervising the secretariat and the leadership forums, analyzing communication between executive officers and managers, and ensuring compliance with good governance practices on high-level matters.