Corporate Governance

Banco Comercial Português, S.A., structured this Corporate Governance Report regarding the financial year of 2020, in compliance with the principles and recommendations of the Corporate Governance Code issued by Instituto Português de Corporate Governance (IPCG) that adopted in 2020, and in compliance with the guidelines set forth in circular from CMVM – “The supervision of the of the Corporate Governance recommendations regime – new rules and procedures for 2019”, of 11 January 2019 – and the Attachment to the CMVM Regulations 4/2013 of August 1 2013.

In July 2020, Banco de Portugal issued the Notice 3/2020 with the purpose of handling, in an integrated manner, and further detail the several matters related with organizational culture, corporate governance and internal control. The Bank has already complied, in 2020, with several of the procedures imposed by the new notice, namely those deriving from the EBA guidelines, which are now materialised and deepen by Banco de Portugal.