Sustainability and social responsibility are firmly integrated in OLB’s business activity. In line with its business strategy, the Bank aligns its business activity, inter alia, with the United Nations “Principles for Responsible Banking“. The responsible corporate management requests the protection of natural resources. Therefore, special importance is given to the protection of natural resources in OLB’s Code of Conduct. Employees should ensure that they protect natural resources during their work and reduce their impact on the environment as far as possible, for example, by saving material and energy, avoiding or reducing and recycling of waste.
OLB defined a Code of Conduct for all employees, officers and members of the Board of Directors. The principles of conduct described therein implement generally recognised principles to recognise human rights and to integrate sustainability and social responsibility in OLB’s business activity. They describe guidelines which should assist employees, in particular if they are uncertain of what type of conduct is appropriate in certain situations. In addition to describing basic values and standards, the principles of conduct explain, in particular, a legal and compliant conduct of transactions, client protection, the prevention of bribery and corruption and a responsible company management. OLB published its Code of Conduct on the Internet [see: OLB Code of Conduct].
OLB pursues a sustainable business model with the client being at the heart of everything to permanently ensure its own corporate substance which is necessary for the business. A conscious taking of risks, or credit risks is part of its business and risk strategy. The Board of Directors places special importance on the promotion of an adequate and consistent risk culture on all levels of the company. Shared ethical values and a company-wide risk culture are important success factors for a sustainable business development of OLB and result in a sustainable prevention of potentially incorrect conduct. The culture lived within OLB simultaneously impacts the reputation of the Bank and how it is perceived externally. Cultural values such as credibility, reliability, trustworthiness and responsibility are at the core and might affect the financial performance and thus OLB’s ability to survive in the future. Structure and preservation of the risk culture are the contents of a guideline resolved upon by the Board of Directors. OLB’s management principles reflect the exemplary function of officers who are jointly responsible for a profitable, sustainable and risk-oriented growth of the Bank.