Evaluation of performance of the Management Board
The Management Board of the Bank runs day to day activities based on the principles of corporate governance and guided by the provisions of the law of the Republic of Armenia “On banks and banking”. Activities of the Management Board of the Bank cover execution of resolutions passed by the General Meeting of Shareholders, the Council of the Bank and the Management Board, implementation of strategic program of the Bank and internal acts adopted by the Council of the Bank.
The Council of the Bank evaluated performance of the Management Board on the basis of reports and information provided by the Chairman of the Management Board, Chief Accountant, Internal audit division, acts of inspection of the CBA and the opinion of the independent auditor. The works of the Management Board are evaluated on the basis of:
- implementation of strategic program of the Bank,
- execution of decisions passed by the Council,
- functions directed to mitigation of risks,
- effective management of day to day activities of the Bank,
- Interest rate policy,
- effective planning and implementation of income and costs,
- staff policy.
Principles of evaluation of Executive body of Anelik Bank CJSC are regulated by the appropriate internal legal acts adopted by the Council of the Bank. As of May 12, 2017 total staff of the Bank (head office and branches) is 405.