1. Strategic Analysis and Action

The company declares whether or not it pursues a sustainability strategy. It explains what concrete measures it is undertaking to operate in compliance with key recognised sector-specific, national and international standards.

OLB follows the principle of pursuing long-term and sustainable activities, both in its banking business and in view of social and ecological aspects. The topic of sustainability is integrated as a strategic factor in the entire Bank. That is, first and foremost, an operational principle derived from economic aspects where the development of business activities is planned and performed by permanently ensuring the Bank’s corporate substance that is essentially necessary for its business operation. In addition, the Bank considers events and conditions arising in the fields of environment, social affairs and from corporate management which might have an actual or potential impact on the Bank’s asset and financial situation and the result of its operations as well as on its reputation. Therefore, and in line with its business strategy, the Bank aligns its business activity, inter alia, on the United Nations Principles for Responsible Banking. Moreover, OLB puts, in its business activity, special emphasis on promoting an adequate risk culture whose aim is to strengthen the risk awareness as part of the risk management on all levels of its organisation.
OLB discloses information on this topic in this separate report (Non-Financial Report), the contents of which is based on the standards of the German Sustainability Code (DNK) and contains, inter alia, a number of quantitative performance indicators of the Global Reporting Initiative (GRI) as specified by the DNK. In the context of its business strategy, the Bank committed itself to the sustainability aspects described in this Non-Financial Report spanning the five dimensions of environment, employee matters, social affairs, respect for human rights as well as the fight against corruption and bribery.
OLB thrives on the trust that its client, shareholders, employees and the public have in the performance and integrity of the company. This trust depends mainly on the conduct of employees, officers and management and how they use their abilities for the benefit of clients, stockholders and the company. The Bank introduced a Code of Conduct for all of its employees, officers and the management. The principles of conduct described in OLB’s Code of Conduct integrate in the company’s business activity any internationally recognised principles regarding human rights as well as sustainability and social responsibility, as those set out in the UN Global Compact Program. They provide our employees with guidelines for their daily thinking and actions. In addition to topics such as corruption, money-laundering and discrimination, the principles of conduct also deal with possible conflicts of interest and how to avoid them. OLB’s Code of Conduct is available on the internet [see: OLB Code of Conduct].