Corporate governance lies at the foundation of the entire Sberbank system of management and control, and includes an organizational model, external and internal mechanisms for monitoring and control, and also corporate values and governing principles. The improvement and development of corporate governance practices is an undisputed priority for Sberbank and is within the area of attention and control of the Supervisory Board.
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Key results of the work of the Supervisory Board in 2017:
- Approval of the Sberbank Development Strategy 2020.
- Approval of the Succession Policy for Members of the Supervisory Board of Sberbank, which determines the main principles and procedures guaranteeing that a professional and effective Supervisory Board is created and maintained
- Approval of a new Dividend Policy, which codifies the intention of Sberbank over the next three years to gradually raise the share of dividend payments in the net profits of the Sberbank Group from the current 25% to 50% of the net profits as measured under IFRS (taking into consideration the requirements, set by the Dividend policy).