Crystal Bank is committed to maintaining high standards of corporate governance, recognizing that effective governance is essential to the Bank’s financial soundness, prudent risk management, and long-term sustainability. The Bank’s governance framework is designed to ensure responsible decision-making, transparency, and accountability, in line with Georgian laws, National Bank of Georgia regulatory requirements and international banking best practices.
The Bank operates under a clear governance structure that defines the roles and responsibilities of the governing bodies and management. The Supervisory Board has overall responsibility for the strategic direction, oversight, and control of the Bank. It acts in the best interests of the Bank, its depositors, shareholders, and other stakeholders, while ensuring compliance with supervisory expectations.
The Supervisory Board approves the Bank’s strategy, business plan, risk appetite, key policies, and internal governance arrangements, and oversees their effective implementation by the Management Board. The Supervisory Board also ensures that the Bank maintains adequate capital and liquidity and promotes a strong risk and compliance culture throughout the organization.
To support its work, the Supervisory Board has established specialized committees according to the National Bank of Georgia’s regulatory requirements, each operating under written terms of reference and reporting regularly to the Board. These include the Audit Committee and the Risk Committee. The committees enhance the Board’s oversight of financial reporting, risk management, and internal controls.
Supervisory Board Committees are as follow:
The Risk Committee of the Supervisory Board of Micro Bank Crystal acts on the basis of the Regulation on
the Risk Committee of the Supervisory Board of the Bank. The Committee works as an auxiliary, advisory and decision making body established by the Supervisory Board of the Bank.
The Committee’s goal is to provide systematic oversight within the delegated powers of the Supervisory Board on Crystal’s environmental, social, and governance (ESG) matters. It supports the Supervisory Board by defining ESG principles, monitoring their implementation, and ensuring these issues are embedded in Crystal’s strategy to promote long-term sustainability. Key focus areas include environmental and social impacts, responsible financing, consumer rights, climate change risks, and employee diversity. The Committee also assists the Supervisory Board in developing effective practices to address these matters.
The purpose of the Committee is to provide structured and systematic oversight of Crystal’s governance, risk management, and internal control practices. It assists the Board and management by providing advice and guidance on the adequacy of initiatives related to values and ethics, the governance structure, the internal control framework, oversight of internal audit activities, external auditors, and other assurance providers, as well as the Bank’s financial condition.