OREANDA-NEWS. On 21 April 2009 was announced, that the Board of Directors of TransCreditBank, who had their meeting chaired by T.V. Paramonova in Moscow, moved to approve Business Ethics Code setting forth principles and norms of conduct of officers and employees as well as of the bank’s relations with its shareholders and other stakeholders.

The document was produced in accordance with recommendations of the Corporate Ethics Code of the Federal Commission for Securities Market of the Russian Federation, the Charter and the Corporate Ethics Code of Conduct which had been earlier approved by the bank.  Approval of the Business Ethics Code is part of ongoing efforts of the bank to implement best practices of corporate governance with a view of creating favorable environment for TransCreditBank’s development as a public company and making it more attractive for investors.

Provisions of the Code shall apply to members of the Board of Directors, members of the Management Board, heads of functions and employees. The Code contains guidelines to be relied on in business. Compliance with the Code is advised to all subsidiaries of the bank.