Focus of activity

The Managing Board regularly informed the Supervisory Board of the progress and status of the company on a timely basis and in a comprehensive manner. In this context, special mention should be made of information regarding the new internal service regulations, the legal framework under Croatian cartel law in connection with HVB Splitska banka, and the regulatory situation in Poland in connection with Bank BPH. The Supervisory Board took note of the statement made by the Managing Board pursuant to Section 14 of the Austrian Takeover Act on UniCredit’s takeover bid, and discussed in detail topics related to the entry into UniCredit Group. In its work the Supervisory Board also took into account the bank’s results and the main issues dealt with by the Supervisory Board committees. Transactions requiring approval by the Supervisory Board, in particular transactions concerning equity interests, were evaluated in detail before resolutions were passed. Resolutions adopted on the basis of the Supervisory Board’s own approval authority included changes in the internal rules of the Supervisory Board, of the credit committee and of the Managing Board, including the distribution of responsibilities. The credit committee took decisions on loan exposures requiring its approval and discussed portfolio and risk reports. The credit committee also dealt with large exposures pursuant to Section 27 of the Austrian Banking Act, including resolutions concerning credit lines, with the structure of the loan portfolio and with risk policy principles.