A sustainable bank requires assuming economic responsibility by offering sound and sustainable financing, working to prevent financial crime and ensuring that high ethical standards are maintained at the bank.
Sound and sustainable financing
Taking economic responsibility means taking responsibility by offering sound and sustainable financing. The bank exercises responsible credit granting and has a responsibility to contribute to customers’ financial security, but it also has to be part of the financial system that ensures a long-term, stable economy for society as a whole. The bank’s credit policy sets the framework for sound and responsible credit granting, where a good, long-term credit portfolio protects the bank and by extension, its owners, from credit losses.
Sound and responsible credit granting means the bank is clear and open about terms and products, and conducts sales and marketing in a restrained and responsible manner. Customers should feel safe with the bank, and understand the terms being offered, since customers are often facing crucial financial decisions. The bank promotes simplicity, clarity and transparency in its credit process.
Combating financial crime
Money laundering and terrorism financing are international problems that comprise serious threats to society. Landshypotek Bank works in a pre-emptive manner to prevent financial crime and, as a financial sector operator, has an obligation to assess and minimise the risk of its operations being used for money laundering or financing terrorism. The bank works actively to minimise this risk by always checking identity, the purpose and the real principal. Each year, all employees are to complete training in countermeasures for money laundering and the financing of terrorism. Relevant governance documents are available to all staff and are revised annually to ensure that they meet the requirements and expectations of our operating environment.
Acting ethically and objectively is of great importance in all of the bank’s business dealings. Restraint is exercised with regard to accepting gifts and other benefits. The bank’s employees are never to accept a gift or remuneration that could influence their objectivity.
Employees may never administer a case in which their objectivity could be questioned. If any risk of a conflict of interest exists, the case must be handed over to another party to avoid said risk. Maintaining banking secrecy is a core obligation of the bank’s employees.
Banking secrecy not only provides our customers with financial security, it also forms the basis for long-term and good relationships with our customers. The bank’s ethics policy is a key tool for providing guidance to staff on ethical issues.