//Public Corporate Governance

NRW.BANK is Germany’s first regional development bank and one of the first public-sector companies to introduce a Public Corporate Governance Code. It came into force on January 1, 2006. The Bank has thus committed itself to transparent and responsible corporate governance.

As the fifth largest German issuer, NRW.BANK is a well-established name in the international capital markets. To demonstrate transparency and responsibility both towards the markets and towards the state’s political institutions and leaders, its owners, the recipients of development funds, the local authorities, its employees and the general public, NRW.BANK has committed itself to public corporate governance.

NRW.BANK’s Public Corporate Governance Code is based on the German Corporate Governance Code. The tasks and composition of its Supervisory Board and its Managing Board under laws, statutes and standing orders are basically comparable with those of a listed joint-stock company. To take the Bank’s public law status into account, several adjustments have been made to the code which addresses the Bank’s bodies (Managing Board, Supervisory Board, Guarantors’ Meeting), the cooperation of the Managing Board and Supervisory Board, transparency in the wider sense and finally accounting and auditing issues.

NRW.BANK plans to adjust the code to future developments.