OREANDA-NEWS. On March 05, 2009 Parex banka’s Management Board has confirmed its Code of Conduct, an inner procedure of the Bank regulating the principles of professional ethics in Parex banka, reported the press-centre of Parex banka.

As stated in the Code, ethical action is an initiative to achieve long-term work and lasting mutual confidence in cooperation with customers and partners, and among the employees of the Bank.

Parex banka’s Ethics and Disciplinary Committee will ensure implementation of the regulations of the Code. In cooperation with the Management of the Bank, this Committee will analyze and monitor adherence to the requirements of the Code, as well as evaluate possible violations. Cases of violation and conflicts of interest will be scrutinized as closely as other disciplinary cases. Applying appropriate procedures, members of the Committee will answer the questions of the employees.

The Code has been elaborated by virtue of comparative advantages and values of Parex banka highlighted by employees, customers and outside consultants, namely – business orientation, competitiveness and credibility. The Code defines common basic principles of ethics to be abided by all employees of the Group in their everyday work activities.