Dutch Corporate Governance Code
At NIBC we voluntarily support and apply the principles of the Dutch Corporate Governance Code, and only partly deviate from its best practices and principles, as it contained in the 2008 Code. The main deviation is that NIBC does not comply with best practice provision III.2.1, which stipulates that all members of a supervisory board should be independent, except for one.
In this regard, the Code is at odds with the policy of the Dutch Central Bank (2012), which requires that at least 50% of Supervisory Board members should be formally independent. NIBC has made an assessment of the independence of the members of its Supervisory Board based on this policy, which has determined that five out of the nine members of the Supervisory Board qualify as formally independent.
Please find as download a detailed overview of NBC’s compliance with the principles of the Dutch Corporate Governance Code.
The Banking Code
An updated Dutch Banking Code came into effect on January 1, 2015. The new Dutch Banking Code, together with the introduction of the Social Charter and the implementation of the Bankers' Oath, is applicable to all employees of financial institutions in the Netherlands. NIBC supports the principles of the Banking Code to regain trust, ensure stability and protect the interests of our stakeholders.
Please find as a download a detailed overview of NIBC's compliance with the 2015 Banking Code.