The Supervisory Board of JSC “Oschadbank” calls for avoiding politicization in public discussions surrounding the Bank’s procurement procedures and certain management decisions

Oschadbank operates based on a modern corporate governance model aligned with international best practices. Most of the Supervisory Board members are independent, including foreign professionals with extensive experience in the financial sector. This structure ensures robust oversight, independent decision-making free from intervention by third parties, and protection against any undue influence.

The Bank’s procurement procedures are multi-level, collegial, and risk based. They encompass not only the evaluation of price proposals but also comprehensive due diligence of participants’ compliance with established qualification, technical, and reputational criteria. The Bank continuously seeks best practices and strives for operational excellence in all processes.

The participation of companies with questionable or unacceptable reputations in open tenders does not indicate weaknesses in the system. On the contrary, the rejection of such proposals as a result of due diligence demonstrates the effectiveness of the Bank’s control framework and the proper functioning of its risk management processes.

Decisions related to the relevant procurement were taken collectively, in full compliance with the Bank’s internal procedures. The Supervisory Board supports adherence to these procedures and the professional judgment of management aimed at safeguarding the interests of the Bank and the state.

At the same time, we emphasize that the ongoing criminal proceedings fall within the competence of law enforcement authorities and must be addressed strictly within the legal framework. A notice of suspicion is a procedural step and does not constitute a determination of guilt.

The Supervisory Board consistently upholds the principle of the presumption of innocence and expects a thorough, impartial, and professional examination of all relevant facts by the competent authorities.

We urge all stakeholders to refrain from politicizing this matter or disseminating unverified or subjective claims that could undermine trust in the financial system and public institutions.

The Supervisory Board will continue to exercise effective oversight of the Bank’s activities, ensure adherence to the highest standards of corporate governance, and respond appropriately to any attempts to discredit the Bank.