DZ BANK attaches great importance to responsible corporate management. Our first priority is not to satisfy formal standards but rather to achieve a level of corporate management that is both long term and geared toward the creation of value.

Our aim is to ensure that DZ BANK is a model of corporate governance, an important contributing factor in maintaining and developing the trust of customers, owners, employees, and the general public. This corporate governance takes into account the special features of our cooperative financial network.

Interaction between Board of Managing Directors and Supervisory Board

Our Board of Managing Directors, which has seven members, manages the Bank and is responsible for developing corporate strategy.

The Board of Managing Directors is monitored by the DZ BANK Supervisory Board. The nine shareholder representatives on the Supervisory Board are elected by the Annual General Meeting, and the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR) [National Association of German Cooperative Banks] sends one delegate. In accordance with the German Codetermination Act (MitBestG), the members of the Supervisory Board also include ten employee representatives. Members of the Board of Managing Directors of DZ BANK are not permitted to transfer directly to the Supervisory Board when they leave the Board of Managing Directors.

The Supervisory Board and its committees monitor and advise DZ BANK’s Board of Managing Directors and cooperate closely with it. The Board of Managing Directors informs the members of the Supervisory Board of any relevant developments as soon as possible.

Compensation systems

Changes have been made to the compensation systems for the members of the Board of Managing Directors and employees whose activities have a material effect on the overall risk profile of the Bank.

Variable compensation has been made more sustainable because performance is now measured over several years and risk-oriented key figures are monitored even more closely.

Transparent financial reporting in accordance with IFRS

To ensure that we supply all our shareholders with information that is as comprehensive and transparent as possible, our consolidated financial statements and all interim financial statements comply with International Financial Reporting Standards (IFRS). The consolidated financial statements are prepared by the Board of Managing Directors and are then audited by an independent firm of auditors and reviewed by the Supervisory Board.