Meaning of the Code

The NLB Group Code of Conduct is a set of fundamental principles, values and rules that must be understood and complied with by every employee of the NLB Group. This is the only way for us in the NLB Group to act in accordance with the ethical standards.

The Code stipulates the Fundamental principles of conduct on which the operations and actions of the NLB Group are based. In this way, the Code guides us in our daily conduct and helps understand what is expected from each employee and other stakeholders in the NLB Group. In this manner, it also defines what is crucial for fulfilling the long-term development strategy of the NLB Group and its responsible conduct in which we must maintain the confidence of our customers, employees, shareholders and the social environment in which the NLB Group operates.

Therefore, the Code clearly defines the expectations from each employee in the NLB Group and also lays down the standards expected in our relationship with the other stakeholders and instructions and guidance in our everyday work and the operations of the NLB Group.

The NLB Group is present in wide range of different national and cultural environments in which the employees in the member companies of the NLB Group work. In the spirit of cultural differences in the countries where the NLB Group operates, we strive for cooperation and exchange of different views and experiences. In the spirit of cultural and other differences in the countries where the NLB Group operates, we also interpret the principles of the desired conduct written in this Code.

• represents the values and fundamental principles of conduct,
•  sets out the rules that every employee in the NLB Group must understand and respect,
• defines expectations from each employee in the NLB Group and also reflects the standards that we expect in our relationship to the rest of our stakeholders.

The Code is structured so as to be of practical help in our everyday work. There is a special chapter intended for all managers at all organisational levels, with special responsibility in the transfer of the Code into practical use in the NLB Group.