Supervisory Board
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The Supervisory Board is the Bank's collective non-executive management body that represents the members' (shareholders') interests between conducting the General Members' Meetings. The members (shareholders) elect the members of the Supervisory Board and approve the Regulations, settling its performance, organization and functions. The Supervisory Board is accountable to the General Members’ Meeting and controls the Management Board’s performance. The competence and functioning of the Supervisory Board are determined by the legislation of Ukraine, the Statute, Corporate Governance Code and Regulations of the Supervisory Board of the Open Joint Stock Commercial Bank Nadra.
As of June 1, 2008 the Supervisory Board of NADRA BANK consists of seven members, and three out of them, including the Chairman of the Supervisory Board, are independent. Presence of the independent members is one of the most important components of corporate governance that ensures objectivity of making main strategic decisions, protection of minority members’ (shareholders’) rights and compliance of the Bank’s corporate governance procedures with the international standards and best practices of the banking system of Ukraine.
In order to improve its control functions, the Supervisory Board establishes the Audit Committee, and in case of need it can establish other committees, determine their personnel, powers and other aspects of functioning.
Last update 09.06.2008 
