Requirements of independence

All Supervisory Board Members must be in possession of the requirements of independence required of auditors of listed Companies.
Given the importance attributed by law to the aforementioned independence requirements – which in operating terms imply that, should they occur, certain circumstances render incompatible the office of member of the Supervisory Board – the Bank requires that each Member provides an annual declaration confirming that they continue to possess the requirements of independence.
The Articles of Association further provide that at least ten members of the Supervisory Board must meet the independence requirements envisaged in the Corporate Governance Code.
At the time their candidatures are submitted, Members of the Supervisory Board are asked to certify, under their own responsibility, if they are independent in accordance with the application criteria indicated in the Code. Each Board Member claiming independence must evaluate his/her own situation based on the parameters listed under the aforementioned criteria.