Code of Conduct

The basic objective of the Savings Banks Group is to promote thrift and the well-being of its customers while operating near the customers. The values of the Savings Banks Group form the basis of all our operations. All our activities are founded in our values.

The Savings Banks Group’s values

Customer-drivenness. We listen to and encounter customers in a unique way based on each customer's individual needs. 

Cooperation. Our cooperation with customers, personnel, Savings Banks and partners is open, genuine and conducive to growth. We constantly regenerate and reform our operations.

Responsibility. We conduct our business professionally and reliably. We exist for the customer and the local community.

Performance. Our profitability and growth ensure the development of customer services and the vitality of our operational environment.

Operations according to regulations

Compliance with legislation and regulations is a top priority for Savings Banks Group in all its operations. In order to ensure compliance with the law and regulations, Savings Banks Group has prepared guiding principles and procedures that all employees must follow.

Fair treatment

We emphasise the importance of co-operation in all our operations. Good co-operation requires proper, respectful treatment of all members of the work community, as well as co-operation partners. Members of the Savings Banks Group do not condone discrimination based on ethnicity, gender, religion, age, sexual orientation or any other reason. No discrimination or harassment is permitted.

Gifts and hospitality

We are very careful about accepting and offering gifts and hospitality. All our employees are expected to consider the situation carefully before giving gifts or hospitality to or accepting them from our partners or customers. Gifts and hospitality that can be interpreted as an attempt to influence business operations are prohibited. 

Handling confidential information

Our operations are based on trust. Compliance with banking and insurance secrecy is an unconditional requirement for all our operations. Confidential information may only be used for work-related tasks. Customer information may be distributed within the Savings Banks Group when necessary to enable risk management and the improvement of customer service.

Handling inside information

The Savings Banks Group personnel’s ordinary duties may include receiving inside information on matters such as customer companies. Using or distributing inside information is prohibited. The activities of the personnel are directed by the Savings Banks Group insider and trading guidelines. The functions of the Savings Banks Group have been organised in such a way that inside information is accessible only to those employees who require it in the performance of their duties.

An employee who, when buying or selling listed shares or certain other securities, is in possession of information pertaining to said instruments that is not public knowledge and, if it were to become public knowledge, could likely significantly affect the value of said securities, is guilty of a criminal offence. The disclosure of inside information related to the factors influencing pricing is also prohibited by law.

To reduce the risk of criminal offences, the functions of the member organisations of the Savings Banks Amalgamation have been organised in such a way that inside information is only accessible to those employees who require it in the performance of their duties. Insider and trading guidelines have been drafted for the member organisations of the Savings Banks Amalgamation.

Whistleblowing

The member organisations of the Savings Banks Amalgamation value an environment that encourages the open exchange of information. To ensure access to information that is critical to operations, the central institution of the Savings Banks Amalgamation has established a whistle-blowing system for employees to report any serious offences they observe.

The reported information can include, for example, suspected infringements against the regulations governing the financial markets and suspected infringements against the credit institution’s internal operating guidelines (including activities that are in breach of the Act on Credit Institutions and infringements against the Securities Markets Act, such as the abuse of inside information and breach of bank secrecy or privacy legislation). Separate whistle-blowing procedures and guidelines have been drafted for the member organisations of the Savings Banks Amalgamation.

Conflicts of interest

Conflicts of interest may cast doubt over the integrity and professionalism of the member organisations of the Savings Banks Amalgamation, which is why they must be avoided. A conflict of interest may arise in any business unit of a member organisation of the Savings Banks Amalgamation if customers are offered a service that may benefit member organisations of the Savings Banks Amalgamation (or their employees, or another customer on whose behalf a member organisation of the Savings Banks Amalgamation is operating) or may have a negative effect on the customers of the member organisations of the Savings Banks Amalgamation. This section is supplemented by separate operating guidelines drafted for the member organisations of the Savings Banks Amalgamation to facilitate the prevention and handling of conflicts of interest.