Social Responsibility

SOCIAL RESPONSIBILITY

2015 CONTENTS

INTRODUCTORY WORD BY THE GOVERNOR 2

ABOUT THE NATIONAL BANK OF SERBIA 4

Objectives and functions 4 Code of professional conduct 6 Public relations 6

RESPONSIBILITY TO EMPLOYEES 8

Employee structure 8 Education, professional development and training 9 Occupational health and safety 10 Internal communication 11

RESPONSIBILITY TO THE COMMUNITY 12

Protection and education of financial services consumers 12 Exhibitions and educational activities 14 Humanitarian and voluntary campaigns 17 Donations 18 United Nations Global Compact membership 18

RESPONSIBILITY TO THE ENVIRONMENT 20

Preserving natural resources at the head office and branches 20 Reducing harmful effects on the environment 21

AWARDS 24

Voluntarism and solidarity of employees 24 Participation in the action “Bottle Cap for Handicap” 25 CONTENTS

INTRODUCTORY WORD BY THE GOVERNOR 2

ABOUT THE NATIONAL BANK OF SERBIA 4

Objectives and functions 4 Code of professional conduct 6 Public relations 6

RESPONSIBILITY TO EMPLOYEES 8

Employee structure 8 Education, professional development and training 9 Occupational health and safety 10 Internal communication 11

RESPONSIBILITY TO THE COMMUNITY 12

Protection and education of financial services consumers 12 Exhibitions and educational activities 14 Humanitarian and voluntary campaigns 17 Donations 18 United Nations Global Compact membership 18

RESPONSIBILITY TO THE ENVIRONMENT 20

Preserving natural resources at the head office and branches 20 Reducing harmful effects on the environment 21

AWARDS 24

Voluntarism and solidarity of employees 24 Participation in the action “Bottle Cap for Handicap” 25 INTRODUCTORY WORD BY THE GOVERNOR

erving in the interest of all Serbian citizens and being accountable to them, with its professional and transparent Soperation the National Bank of Serbia contributes to the enhancement of trust and strengthening of a credible dialogue with all stakeholders, while at the same time aiming to achieve its statutory objectives.

Building a credible dialogue in a vibrant business environment is possible only by understanding complex relations between the business world and society, which entails a focus on the well- being of the community at large in a decision-making process. Such approach enables us to place socially responsible operation at the very top of our priorities.

The achievements of our institution can be summed up as follows – low and stable inflation, historically low interest rates, anchored inflation expectations, a relatively stable exchange rate, a stable and resilient financial system, rising investment loans, enhanced trust in the local currency, along with stepped- dedication to the social responsibility concept, which has always imply an obligation. That is why we will persevere in our work, up dinar household borrowing and an increase in dinar savings. implied a focus on and creation of real values. with even more dedication and confidence. This is not our assessment only – it has been confirmed by credit We inherited such dedication – it is part of our tradition and our In the context of social responsibility, it is noteworthy that the agencies and relevant international institutions. We delivered organisational culture. In 2015, the National Bank of Serbia National Bank of Serbia is one of the founders of and an active these results braving the challenges from the international implemented a number of humanitarian activities, showing a participant in the United Nations Global Compact in Serbia. It environment and the international financial market, always high degree of social responsibility and sensitivity to the needs upholds the Global Compact Ten Principles, which pertain to the bearing in mind a clear picture of the long-term effect of our of the most vulnerable social groups. protection of human and labour rights, environmental protection objectives on Serbian citizens. and fight against corruption. Not only does such an initiative Smiles, embraces, an extended hand and a warm word, the One of our principal objectives – price stability, was achieved. help promote and develop the social responsibility concept, but feeling that you have done a lot with only a little effort – these are Low and stable inflation that Serbia has been experiencing for it also gives a chance to business entities to learn from other the results that cannot be measured and reflected in reports and more than three years, is key to maintaining the real value of people's experiences, exchange good practices, create tables. Nevertheless, such results are the outcome of each of our wages and pensions, and creating predictable terms of operation. partnerships and implement joint projects. volunteer and humanitarian activity and are often the most Given that our economy is small, open and euroised, the important ones. We take pride in them and will continue to aspire We shall strive to do even better in the period ahead, readily exchange rate is an important lever for financial stability and to them. embracing all challenges that we may encounter as it is only predictability of operation. Therefore, preserving the relative through mutual respect, cooperation and selfless commitment stability of the exchange rate helps strengthen the business and The results that the National Bank of Serbia achieved over the that we can create the preconditions for a better society. investment environment, and results in higher investments and a last year in the field of social responsibility were recognised by lower country risk premium. Our commitment to stability – price the professional public and the media alike, as it is with them that Governor and financial stability, and relative stability of the exchange rate we constantly cooperate in order to improve our activities in this – has no alternative. domain. Our efforts were thus positively assessed and recognised by the wider public, confirming our belief that Furthermore, by continuously reducing the key policy rate, we employees of the National Bank of Serbia are the best Jorgovanka Tabaković, PhD created room for the recovery of credit activity and further ambassadors of social responsibility. economic growth. Today, corporates, households and the government have dinar loans with interest rates that are at their Our achievements are also reflected in the social responsibility lowest since the introduction of the inflation targeting regime. award “My Choice” – granted in 2015 for volunteer work and We thus made great savings for corporates, citizens and the employee solidarity by the “My Serbia” association, with the government. support of the Belgrade Chamber of Commerce and the City of Belgrade. As much as we appreciate such awards, they also Employees at the National Bank of Serbia strive to improve their expertise and professionalism, while at the same time fostering 3 INTRODUCTORY WORD BY THE GOVERNOR

Governor Jorgovanka Tabaković

Vice-Governor Vice-Governor Vice-Governor Secretary General Director of the Bank Resolution Veselin Pješčić Ana Gligorijević Diana Dragutinović Nataša Tanjević Administration for Supervision of Financial Department Institutions Accounting and Monetary Foreign Financial Đorđe Jevtić Directorate for Finance companies, supervises this business and performs other Operations Exchange Stability Economic Department Objectives and functions activities in accordance with the law governing Department Department Department Research and Bank Supervision Statistic voluntary pension funds; Department Human Resources he National Bank of Serbia (NBS) is independent International Cash  issues and revokes licenses for carrying out financial Payment System Relations and autonomous in carrying out its tasks. As the Department Department leasing operations, supervises such operations and Department guarantor of price stability, it enjoys great trust General Affairs T performs other activities in accordance with the law Department Insurance National Payment among citizens. In addition to achieving its primary governing financial leasing; Supervision Enforced Collection Department Card Centre objective, i.e. price stability, the NBS is also in charge of  issues and revokes operating licenses of payment preserving and strengthening financial stability. By Procurement institutions and electronic money institutions, Centre Governor's tackling numerous challenges, it has been continuously supervises the provision of payment services and Centre for Office achieving its primary objectives, even above electronic money issuance, and performs other Information expectations. It is accountable for its work to the National activities, in accordance with the law governing Belgrade Branch Systems Internal (general affairs) Supervision Audit Assembly. payment services;

institutions are regulated by the Constitution of the companies, payment service providers and electronic Executive Board meetings are held as often as deemed Department Republic of Serbia and the Law on the National Bank of money issuers, in accordance with law; necessary, but no less than once a month. They are chaired Serbia.  determines the fulfilment of conditions for launching by the Governor. Controlling Centre the procedures of the resolution of banks and/or The NBS: banking group members, and implements these Belgrade Branch The NBS is managed by the Governor, who represents and (cash operations) procedures, decides on resolution tools and measures, acts on behalf of the NBS. The Governor is appointed by companies, financial leasing  determines and implements monetary and foreign and performs other activities relating to bank the National Assembly upon the proposal of the President companies, the protection of exchange policies; resolution, in accordance with the law governing banks; Novi Sad Branch of the Republic of Serbia. The Governor is appointed for a consumers of financial services and (cash operations)  manages foreign exchange reserves;  issues and revokes operating licenses of payment six-year renewable term of office. The Governor manages  other issues. determines and implements, within its scope of system operators, supervises their operation and the operations of the NBS and organises its work, Niš Branch authority, the activities and measures aimed at performs other activities, in accordance with the law implements decisions of the Executive Board and of the The NBS is a legal entity with its Kragujevac Branch maintaining and strengthening the stability of the governing payment services; Council of the Governor, enacts regulations, general and seat in Belgrade. It may set up financial system;  performs statutory or contractual activities for the individual acts under the remit of the NBS and performs branch offices without the status of Užice Branch  issues banknotes and coins and manages cash Republic of Serbia, without prejudice to its autonomy other duties. a legal entity, whose internal circulation; and independence; Institute for organisation, scope of operation and Manufacturing  regulates, controls and promotes smooth performance  performs other activities under its remit, in accordance The Council of the Governor consists of five members responsibilities are defined by the Banknotes and of domestic and cross-border payment transactions, in with law. Coins - Topčider including the president, appointed by the National NBS Statute. accordance with law; Assembly upon the proposal of the Finance Committee.  issues and revokes operating licenses, carries out Bodies of the NBS are the Executive Board, the Governor Members of the Council are appointed for a five-year The NBS also includes a specialised prudential supervision of bank operations and performs and the Council of the Governor. renewable term of office. The meetings of the Council of other activities in accordance with the law governing organisation, the Institute for the Governor are held as often as deemed necessary, but Manufacturing Banknotes and banks; Members of the Executive Board are: the Governor, not less than once every two months. Among other things, Coins – Topčider, whose duties and responsibilities are  issues and revokes licenses for carrying on the Director of the Administration for Supervision of upon the proposal of the Executive Board, the Council of regulated by the Law on the National Bank of Serbia and insurance business, and/or authorisations for the Financial Institutions and Vice-Governors. The Executive the Governor issues the Statute and the financial plan, and the Statute. conduct of specific activities within the insurance Board determines monetary and foreign exchange adopts NBS annual financial statements. business, supervises such business and performs other policies and carries out activities to maintain and activities in accordance with the law governing strengthen financial stability. It also sets the key policy The NBS also encompasses the Administration for insurance; rate and other interest rates applied by the NBS in the Supervision of Financial Institutions, which is  issues and revokes operating and fund management conduct of monetary policy. Upon the proposal of the responsible for the supervision of banks, insurance licenses of voluntary pension fund management Administration for Supervision of Financial Institutions, undertakings, voluntary pension fund management

4 5 ABOUT THE NATIONAL BANK OF SERBIA

Governor Jorgovanka Tabaković

 pursues activities relating to the protection of rights and Legal The position, organisation, mandate and functions of the interests of the consumers of services provided by the Executive Board issues regulations relating Novi Sad Branch Centre for Financial Department (general affairs) Consumer NBS, as well as its relations with other bodies of the banks, financial leasing providers, insurance to the supervisory function, in accordance with Protection and Education Republic of Serbia and international organisations and undertakings, voluntary pension fund management laws governing the discharge of this function. ICT institutions are regulated by the Constitution of the companies, payment service providers and electronic Executive Board meetings are held as often as deemed Department Republic of Serbia and the Law on the National Bank of money issuers, in accordance with law; necessary, but no less than once a month. They are chaired Serbia.  determines the fulfilment of conditions for launching by the Governor. Controlling Centre the procedures of the resolution of banks and/or The NBS: banking group members, and implements these Belgrade Branch The NBS is managed by the Governor, who represents and (cash operations) procedures, decides on resolution tools and measures, acts on behalf of the NBS. The Governor is appointed by companies, financial leasing  determines and implements monetary and foreign and performs other activities relating to bank the National Assembly upon the proposal of the President companies, the protection of exchange policies; resolution, in accordance with the law governing banks; Novi Sad Branch of the Republic of Serbia. The Governor is appointed for a consumers of financial services and (cash operations)  manages foreign exchange reserves;  issues and revokes operating licenses of payment six-year renewable term of office. The Governor manages  other issues. determines and implements, within its scope of system operators, supervises their operation and the operations of the NBS and organises its work, Niš Branch authority, the activities and measures aimed at performs other activities, in accordance with the law implements decisions of the Executive Board and of the The NBS is a legal entity with its Kragujevac Branch maintaining and strengthening the stability of the governing payment services; Council of the Governor, enacts regulations, general and seat in Belgrade. It may set up financial system;  performs statutory or contractual activities for the individual acts under the remit of the NBS and performs branch offices without the status of Užice Branch  issues banknotes and coins and manages cash Republic of Serbia, without prejudice to its autonomy other duties. a legal entity, whose internal circulation; and independence; Institute for organisation, scope of operation and Manufacturing  regulates, controls and promotes smooth performance  performs other activities under its remit, in accordance The Council of the Governor consists of five members responsibilities are defined by the Banknotes and of domestic and cross-border payment transactions, in with law. Coins - Topčider including the president, appointed by the National NBS Statute. accordance with law; Assembly upon the proposal of the Finance Committee.  issues and revokes operating licenses, carries out Bodies of the NBS are the Executive Board, the Governor Members of the Council are appointed for a five-year The NBS also includes a specialised prudential supervision of bank operations and performs and the Council of the Governor. renewable term of office. The meetings of the Council of other activities in accordance with the law governing organisation, the Institute for the Governor are held as often as deemed necessary, but Manufacturing Banknotes and banks; Members of the Executive Board are: the Governor, not less than once every two months. Among other things, Coins – Topčider, whose duties and responsibilities are  issues and revokes licenses for carrying on the Director of the Administration for Supervision of upon the proposal of the Executive Board, the Council of regulated by the Law on the National Bank of Serbia and insurance business, and/or authorisations for the Financial Institutions and Vice-Governors. The Executive the Governor issues the Statute and the financial plan, and the Statute. conduct of specific activities within the insurance Board determines monetary and foreign exchange adopts NBS annual financial statements. business, supervises such business and performs other policies and carries out activities to maintain and activities in accordance with the law governing strengthen financial stability. It also sets the key policy The NBS also encompasses the Administration for insurance; rate and other interest rates applied by the NBS in the Supervision of Financial Institutions, which is  issues and revokes operating and fund management conduct of monetary policy. Upon the proposal of the responsible for the supervision of banks, insurance licenses of voluntary pension fund management Administration for Supervision of Financial Institutions, undertakings, voluntary pension fund management

4 5 29 Code of professional conduct Public relations 375 television press and radio In accordance with its Rulebook on Business Conduct of External communication releases appearances Employees, in the course of 2015 the NBS undertook regular activities to promote the highest standards of In 2015, the NBS continuously and timely informed the 451 answers press ethnical and professional conduct of employees. Articles public about its operations and activities through intensive conferences provided to journalists’ 2 “Style and Business Behaviour” and “Business Behaviour cooperation with the media and publication of information inquiries PUBLIC and Loyalty” were published in the “NBS Info” to on the NBS official website and its subdomains. familiarise employees with standards of desirable RELATIONS 4 presentations behaviour in terms of dedication to work and loyalty, A total of 375 press releases were published and 451 80 of the Inflation Report statements including the dress code. answers provided to journalists' inquiries. As many as 80 presentation statements and 22 interviews were given for both of the Financial The NBS regularly meets its obligations arising from the electronic and print media. Also, 29 television and radio Stability Report Law on the Anti-Corruption Agency and relevant appearances were made by the Governor, Vice-Governors 22 interviews 3 media coverages for 1 secondary legislation. Last year, the report on the and other members of the NBS staff. the start of the negotiations implementation of measures determined by the Integrity with the IMF Plan was submitted to the Agency. Also, the Agency was Four press conferences were organised, where both the timely submitted a notification of the re-election of one general and expert public were presented with the Inflation member of the Council of the Governor. NBS officials Report. The presentation of the Financial Stability Report regularly receive reminders regarding their obligations for 2014 was also held, as well as the presentation on the arising from the said laws and regulations (regular and state and challenges in the financial system in 2015. extraordinary declaration of assets etc.). Furthermore, one press conference was organised on CHF- indexed loans and another on the results of special Publications and website of financial institutions, payment service providers and Also important for the struggle against corruption are diagnostic studies of banks. Media coverage was provided electronic money institutions. It also issued conclusions NBS rulebooks on the internal plan for the prevention of for the start of negotiations with the IMF mission during In 2015, the Annual Report on Activities and Results, Annual about the stress-tests implemented in the banking sector and corruption in public procurements (containing measures their three visits to Belgrade, the two-day conference Financial Stability Report, Annual Monetary Policy Report the challenges and situation in the financial system. and actions aimed at preventing corruption in public “Belgrade Initiative – Resolution of Non-Performing for the previous year and Semi-Annual Monetary Policy procurement planning, public procurement procedure or Loans in the Republic of Serbia”, and the international Report for the current year were published on the NBS In accordance with new regulations, registers of payment during the implementation of public procurement conference “Еconomic Governance in Europe and EU website. Other publications include monthly issues of the institutions, electronic money institutions and electronic contracts, and stipulating actions in case of suspicion of Accession Process: What is the Role of Central Banks”. Statistical Bulletin, quarterly reports on the banking sector, money institutions from third countries were introduced, as corruption) and the internal whistleblowing procedure Furthermore, media coverage was provided for NBS financial leasing supervision, supervision of the insurance well as the register of insurance market participants. In line (helping, among other things, detect the violation of exhibitions: “Dinar – A Journey Through Time” in sector and voluntary pension funds sector, and activities in with amendments to regulations on the establishment of regulations and exercise of public authority contrary to the Aleksinac and “Serbian Money from the 13th to 21st the field of financial consumer protection. Also published banks and issuance of operating licenses and other consents, purpose). Century” in Kragujevac, as well as for the events quarterly were the Inflation Report and the Report on the section “Licensing Manual” was introduced on the NBS “Museum Night” and “Global Money Week” (the NBS Dinarisation of the Financial System. The Inflation Report website. organised several educational workshops relating to presentations were livestreamed on the NBS website. New financial literacy of children and youth). The prize publications released in 2015 were the Trends in Lending and The NBS informed the public about its activities in the field tournament “Moneture” was also presented in the media, the Report on the Results of the Inflation Expectations of financial education, exhibitions and workshops for pupils as well as socially responsible activities of the NBS and a Survey. and students. number of guest exhibitions at the NBS exhibition hall. Through its website, the NBS informed the public about the All printed and electronic material is presented both in instruments and measures it took to preserve and strengthen Serbian and English. financial stability, as well as about instruments and measures of monetary and foreign exchange policies. With its regular publications, statistical analyses and press releases, the NBS presented to the public its activities in the field of supervision

6 7 29 Code of professional conduct Public relations 375 television press and radio In accordance with its Rulebook on Business Conduct of External communication releases appearances Employees, in the course of 2015 the NBS undertook regular activities to promote the highest standards of In 2015, the NBS continuously and timely informed the 451 answers press ethnical and professional conduct of employees. Articles public about its operations and activities through intensive conferences provided to journalists’ 2 “Style and Business Behaviour” and “Business Behaviour cooperation with the media and publication of information inquiries PUBLIC and Loyalty” were published in the “NBS Info” to on the NBS official website and its subdomains. familiarise employees with standards of desirable RELATIONS 4 presentations behaviour in terms of dedication to work and loyalty, A total of 375 press releases were published and 451 80 of the Inflation Report statements including the dress code. answers provided to journalists' inquiries. As many as 80 presentation statements and 22 interviews were given for both of the Financial The NBS regularly meets its obligations arising from the electronic and print media. Also, 29 television and radio Stability Report Law on the Anti-Corruption Agency and relevant appearances were made by the Governor, Vice-Governors 22 interviews 3 media coverages for 1 secondary legislation. Last year, the report on the and other members of the NBS staff. the start of the negotiations implementation of measures determined by the Integrity with the IMF Plan was submitted to the Agency. Also, the Agency was Four press conferences were organised, where both the timely submitted a notification of the re-election of one general and expert public were presented with the Inflation member of the Council of the Governor. NBS officials Report. The presentation of the Financial Stability Report regularly receive reminders regarding their obligations for 2014 was also held, as well as the presentation on the arising from the said laws and regulations (regular and state and challenges in the financial system in 2015. extraordinary declaration of assets etc.). Furthermore, one press conference was organised on CHF- indexed loans and another on the results of special Publications and website of financial institutions, payment service providers and Also important for the struggle against corruption are diagnostic studies of banks. Media coverage was provided electronic money institutions. It also issued conclusions NBS rulebooks on the internal plan for the prevention of for the start of negotiations with the IMF mission during In 2015, the Annual Report on Activities and Results, Annual about the stress-tests implemented in the banking sector and corruption in public procurements (containing measures their three visits to Belgrade, the two-day conference Financial Stability Report, Annual Monetary Policy Report the challenges and situation in the financial system. and actions aimed at preventing corruption in public “Belgrade Initiative – Resolution of Non-Performing for the previous year and Semi-Annual Monetary Policy procurement planning, public procurement procedure or Loans in the Republic of Serbia”, and the international Report for the current year were published on the NBS In accordance with new regulations, registers of payment during the implementation of public procurement conference “Еconomic Governance in Europe and EU website. Other publications include monthly issues of the institutions, electronic money institutions and electronic contracts, and stipulating actions in case of suspicion of Accession Process: What is the Role of Central Banks”. Statistical Bulletin, quarterly reports on the banking sector, money institutions from third countries were introduced, as corruption) and the internal whistleblowing procedure Furthermore, media coverage was provided for NBS financial leasing supervision, supervision of the insurance well as the register of insurance market participants. In line (helping, among other things, detect the violation of exhibitions: “Dinar – A Journey Through Time” in sector and voluntary pension funds sector, and activities in with amendments to regulations on the establishment of regulations and exercise of public authority contrary to the Aleksinac and “Serbian Money from the 13th to 21st the field of financial consumer protection. Also published banks and issuance of operating licenses and other consents, purpose). Century” in Kragujevac, as well as for the events quarterly were the Inflation Report and the Report on the section “Licensing Manual” was introduced on the NBS “Museum Night” and “Global Money Week” (the NBS Dinarisation of the Financial System. The Inflation Report website. organised several educational workshops relating to presentations were livestreamed on the NBS website. New financial literacy of children and youth). The prize publications released in 2015 were the Trends in Lending and The NBS informed the public about its activities in the field tournament “Moneture” was also presented in the media, the Report on the Results of the Inflation Expectations of financial education, exhibitions and workshops for pupils as well as socially responsible activities of the NBS and a Survey. and students. number of guest exhibitions at the NBS exhibition hall. Through its website, the NBS informed the public about the All printed and electronic material is presented both in instruments and measures it took to preserve and strengthen Serbian and English. financial stability, as well as about instruments and measures of monetary and foreign exchange policies. With its regular publications, statistical analyses and press releases, the NBS presented to the public its activities in the field of supervision

6 7 RESPONSIBILITY TO EMPLOYEES

pholding the principles of rational use of As in the earlier years, permanent contracts accounted for There were more women than men among the NBS Chart 4 Educational structure resources, in 2015 the NBS aimed to meet its the largest percentage (91.20%). management staff (55.67%). The gender equality Uemployees' needs. Recognising the key principle is fully upheld, showing commitment to the importance of continuous learning and raising the level of Chart 1 Structure of employees by type of employment promotion of women's rights. Men and women are given competitiveness, the NBS was encouraging its employees equal opportunities in the creation of policies and 25% to be proactive, embrace new trends, develop 8.80% decision-making at the NBS. professionally and share knowledge. A focus was placed on cooperation and team learning. The NBS staff were 38% encouraged to exchange ideas through conferences, meetings and project teams. An open dialogue was Chart 3 Gender structure of management staff promoted and an emphasis was put on the interdependence 37% between an individual, the organisation and society.

Applying the state-of-the-art approach to human resources 91.20% management, the NBS defined as one of its priority objectives the improvement of the organisational culture, 55.67% First-degree studies in order to encourage motivation and employees' Permanent contracts Second-degree studies – MA and specialist studies dedication to work. Ultimately, this helps retain the Fixed-term contracts Third-degree studies – PhD studies highest qualified staff and maintain individual and collective knowledge. During its twelve-month internship programme, the NBS Women accounted for the largest percentage of NBS 44.33% trained nine interns by giving them the opportunity to do employees (54.30%) compared to men (45.70%). various jobs in different organisational units, under the Employee structure supervision of a mentor. Men Chart 2 Gender structure of NBS employees Chart 5 Professional development In 2015, the type of employment, gender, educational Women level and age greatly varied among NBS employees. Education, professional development 50% and training 54.30% 45.70% To support the process of a continuous upgrade of institutional capacities as one of the preconditions for Men reform changes and improvement of personal and 50% Women professional competences, the NBS enabled its staff to participate in various forms of education, professional Gender structure of management staff development and training. Training for interns Heads of basic organisational units, Middle and lower Employees were able to attend internal workshops, training Professional training, licences, certificates Officials Total branches and management in the country and abroad, foreign language courses, as well the Institute as pursue professional development and training in Thanks to bilateral cooperation with central banks of the region and the EU, our employees have the opportunity to Men 2 40% 22 43.14% 66 44.90% 90 44.33% different institutions. learn about new solutions and business practices in central Women 3 60% 29 56.86% 81 55.10% 113 55.67% banking. Employees working in organisational units that carry out main functions set by the Law on the National Total 5 51 147 203 Bank of Serbia have used such opportunities the most.

8 9 RESPONSIBILITY TO EMPLOYEES

8 9 To prepare for the screening process conducted in 2015, voluntary activities of employees in the previous year; within the pre-accession assistance for European Occupational health Internal communication presentation of the timeline of voluntary activities in the integration, through the TAIEX programme, the NBS NBS in the last decade; and opening of a multimedia organised study visits for its employees to help address and safety The strategy to develop and continuously improve photography exhibition under the motto “Inspired by the any doubts in a given field and align specific regulatory internal communication in the NBS rests on developing Strength of Giving”. The aim of the celebration was to acts with the EU acquis. The NBS is a conscientious employer and as such it works and promoting corporate culture throughout the support the spirit of volunteerism and positive actions of to provide its employees with a safe working workplace, on motivating the staff to improve further, the employees who volunteered to help solve problems of The NBS organised the fourth Belgrade IT Forum for ICT environment, adequate protective equipment and medical both professionally and personally, and on creating a people who need assistance. experts, gathering the Word Bank representatives and check-ups, in line with the Law on Safety and Health at pleasant working environment. Employees are informed Work. One specific form of employee investment is staff from 15 central banks who are specialised in IT, data about primary objectives, achievements and events To improve in ternal communication, professional safety and risk management. taking care of occupational health and safety. In through several channels of internal communication standards and socially responsible operation, an accordance with this, all necessary activities were taken (internal newspapers, brochures, video-materials and in- ambassador for internal communication and social Chart 6 Employee training regarding the risk assessment review and protection of house events – Bank Day and New Year's celebration). responsibility was appointed in each organisational unit. employees with health issues. The NBS conducted prior The 25 ambassadors are members of the editorial team of or periodical assessment and examination of work tools The development of internal communication is the “NBS Info”, and it is their task to submit to the 2% and equipment. It also conducted prior and periodical strategically designed and each activity is integrated into editorial team information about activities and novelties 11% 18% medical examination of its employees who carry out high- the Annual Internal Communication Development Plan, in their organisational units and support the risk tasks. Tools and equipment for personal protection which is approved by the Governor. implementation of socially responsible actions of the were procured and distributed to the staff. The NBS NBS. Communication and the pace of meetings with undertook a periodical assessment of the workplace Continuous improvement of internal communication is ambassadors were accordingly designed. conditions on its premises, and in line with the Law and 25% reflected in the development and improvement of the internal general acts, it organised training for employees various channels of internal communication, as well as in Improvement of internal communication is also supported on the topic of workplace safety. the activities implemented to promote social by sending of personalised birthday cards via email. This responsibility. With each passing year, the Bank wishes to 38% channel has developed into a two-way communication improve internal communication further, and so it pays 6% channel which illustrates just how developed our special attention to annual activity reports, which provide corporate culture is and shows respect paid to employees. a clear insight into the results achieved and their comparability. Communication with the NBS Pensioners Association is On-line training also nourished, and the Bank prepared a brochure to help Seminars, workshops, consultations Throughout the year, six issues of the “NBS Info” were employees who are soon to retire to better adjust. and conferences in Serbia published in electronic form. Following eleven round Seminars, workshops, consultations, tables, a brochure was prepared, entitled “How Internal To improve activities of the Group for Internal study visits and Communication Helps Build Trust in Organisations”. The Communication and Social Responsibility, the existing conferences abroad brochure shares opinions and experiences of all round procedures and instructions were revised in March. Seminars in the NBS organised as part table participants – managers of divisions within NBS of bilateral cooperation with organisational units. The brochure was presented to foreign central banks employees via the intranet. In-house workshops and training sessions The NBS organised the Bank Day celebration for its employees to mark the 131-year anniversary of the Besides supporting education, professional training and opening of the first customer service window of the competence building of its employees, the NBS continued Privileged National Bank of the Kingdom of Yugoslavia. with the summer internship programme. This time, we As the NBS is an institution that has cherished tradition of hosted 34 students attending the final year of humanitarianism for over a century, the theme of the undergraduate studies and students at master studies at celebration was volunteerism, under the motto “…as we Serbian universities, and another seven students from foster good traditions of our institution”. The programme abroad. was divided into three segments: a short film about

10 To prepare for the screening process conducted in 2015, voluntary activities of employees in the previous year; within the pre-accession assistance for European Occupational health Internal communication presentation of the timeline of voluntary activities in the integration, through the TAIEX programme, the NBS NBS in the last decade; and opening of a multimedia organised study visits for its employees to help address and safety The strategy to develop and continuously improve photography exhibition under the motto “Inspired by the any doubts in a given field and align specific regulatory internal communication in the NBS rests on developing Strength of Giving”. The aim of the celebration was to acts with the EU acquis. The NBS is a conscientious employer and as such it works and promoting corporate culture throughout the support the spirit of volunteerism and positive actions of to provide its employees with a safe working workplace, on motivating the staff to improve further, the employees who volunteered to help solve problems of The NBS organised the fourth Belgrade IT Forum for ICT environment, adequate protective equipment and medical both professionally and personally, and on creating a people who need assistance. experts, gathering the Word Bank representatives and check-ups, in line with the Law on Safety and Health at pleasant working environment. Employees are informed Work. One specific form of employee investment is staff from 15 central banks who are specialised in IT, data about primary objectives, achievements and events To improve in ternal communication, professional safety and risk management. taking care of occupational health and safety. In through several channels of internal communication standards and socially responsible operation, an accordance with this, all necessary activities were taken (internal newspapers, brochures, video-materials and in- ambassador for internal communication and social Chart 6 Employee training regarding the risk assessment review and protection of house events – Bank Day and New Year's celebration). responsibility was appointed in each organisational unit. employees with health issues. The NBS conducted prior The 25 ambassadors are members of the editorial team of or periodical assessment and examination of work tools The development of internal communication is the “NBS Info”, and it is their task to submit to the 2% and equipment. It also conducted prior and periodical strategically designed and each activity is integrated into editorial team information about activities and novelties 11% 18% medical examination of its employees who carry out high- the Annual Internal Communication Development Plan, in their organisational units and support the risk tasks. Tools and equipment for personal protection which is approved by the Governor. implementation of socially responsible actions of the were procured and distributed to the staff. The NBS NBS. Communication and the pace of meetings with undertook a periodical assessment of the workplace Continuous improvement of internal communication is ambassadors were accordingly designed. conditions on its premises, and in line with the Law and 25% reflected in the development and improvement of the internal general acts, it organised training for employees various channels of internal communication, as well as in Improvement of internal communication is also supported on the topic of workplace safety. the activities implemented to promote social by sending of personalised birthday cards via email. This responsibility. With each passing year, the Bank wishes to 38% channel has developed into a two-way communication improve internal communication further, and so it pays 6% channel which illustrates just how developed our special attention to annual activity reports, which provide corporate culture is and shows respect paid to employees. a clear insight into the results achieved and their comparability. Communication with the NBS Pensioners Association is On-line training also nourished, and the Bank prepared a brochure to help Seminars, workshops, consultations Throughout the year, six issues of the “NBS Info” were employees who are soon to retire to better adjust. and conferences in Serbia published in electronic form. Following eleven round Seminars, workshops, consultations, tables, a brochure was prepared, entitled “How Internal To improve activities of the Group for Internal study visits and Communication Helps Build Trust in Organisations”. The Communication and Social Responsibility, the existing conferences abroad brochure shares opinions and experiences of all round procedures and instructions were revised in March. Seminars in the NBS organised as part table participants – managers of divisions within NBS of bilateral cooperation with organisational units. The brochure was presented to foreign central banks employees via the intranet. In-house workshops and training sessions The NBS organised the Bank Day celebration for its employees to mark the 131-year anniversary of the Besides supporting education, professional training and opening of the first customer service window of the competence building of its employees, the NBS continued Privileged National Bank of the Kingdom of Yugoslavia. with the summer internship programme. This time, we As the NBS is an institution that has cherished tradition of hosted 34 students attending the final year of humanitarianism for over a century, the theme of the undergraduate studies and students at master studies at celebration was volunteerism, under the motto “…as we Serbian universities, and another seven students from foster good traditions of our institution”. The programme abroad. was divided into three segments: a short film about

10 RESPONSIBILITY TO THE COMMUNITY

complaints concerned the work of banks (74.6%). The Protection and education of largest number of the complaints related to: loans (57.3%), current accounts (16.1%), payment cards financial services (12.4%) and FX savings (5.2%). consumers The complaints against the work of insurance companies n 2015, the Centre for Financial Consumer Protection mostly related to motor third party liability insurance and Education actively supported financial services (29.8%), life insurance (16.9%), accidents (15.4%) and Iconsumers by providing assistance in exercising their property insurance (13.3%). rights by acting upon complaints against financial institutions, mediating in disputes and informing and Mediation educating consumers of financial services. The Law Amending the Law on the Protection of Acting upon complaints Financial Services Consumers, in effect since 27 March 2015, enhanced the procedure of protecting rights and In the period between 1 January and 31 December 2015, interests of financial services consumers and envisaged a the Centre received a total of 2,038 complaints and early possibility for them to file a proposal for mediation before complaints concerning the work of financial institutions. the NBS prior to lodging a complaint, as well as in the course and after acting in response to the complaint. In that same period, the Centre received 1,341 complaints concerning the work of financial institutions. Most of the In view of the amendments and supplements to the Law on the Protection of Financial Services Consumers introducing the option of direct submission of mediation consumers which concerned financial services and proposals without having previously filed a complaint, consumer rights in relation to the use of these services. Number of complaints in the period of 01/01 – 31/12/2015, by type of financial service provider this report also covers the received mediation proposals,

Type of financial which totalled 191 in the observed period. Most of the queries involved bank operation (84.9%), services provider Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total % primarily loans (57.7%), current accounts (13.1%) and

Banks 63 77 97 87 100 91 91 96 58 66 84 90 1000 74.6% Оf the total number of mediation proposals, 48 were payment cards (5.4%). accepted by financial institutions, 141 were rejected and Insurance 15 18 32 21 20 16 16 21 19 25 52 77 332 24.8% undertakings one financial consumer abandoned the proposal. The Call Centre received 18,062 telephone calls from Leasing 1 1 1 3 0 0 1 0 0 0 0 0 7 0.5% citizens in 2015. The majority of questions concerned providers A total of 64 mediations were scheduled and held in 2015. banking services and enforced collection. VPF management 0 0 0 2 0 0 0 0 0 0 0 0 2 0.1% companies Оf the total number of mediations, 52 were completed, of Others 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% which 42% ended in agreement between financial In 2015, 50 inquiries from journalists were answered:

Exchange offices 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0% institutions and their clients. five TV appearances, 20 statements by phone and 25 TOTAL 79 96 130 113 120 107 108 117 77 91 136 167 1,341 100% answers provided to questions that came from the printed

Source: National Bank of Serbia. Most mediation procedures dealt with disputes between and electronic media (Radio Vojvodina, Politika, Blic, banks and their clients, and involved loans (31.25%), Radio Laguna, RTS, RTS – Potrošački savetnik, Radio Number of mediations in the period of 01/01 – 31/12/2015, by type of financial service provider payment cards (12.5%) and current accounts (12.5%). In Beograd, TANJUG, TV Vojvodina, Danas, Novosti, regard to the disputes between insurance undertakings Dnevnik, Svet osiguranja, Kamatica, Privredni pregled, Type of financial services provider In progress Settlement Suspension Abandonment Total % and their clients, most mediation procedures concerned E-kapija), including also TV shooting for the RTS series motor third party liability insurance (14.06%) and life on the protection and education of financial services Banks 9 15 15 1 40 62.5% insurance (7.81%). consumers. Insurance undertakings 2 6 13 1 22 34.4%

Leasing 1 1 0 0 2 3.1% Informing financial services consumers Financial education of citizens providers VPF management 0 0 0 0 0 0.0% companies In 2015, the Centre received 1,688 queries (up by 23% During 2015, the NBS staff and branches from Belgrade, TOT AL 12 22 28 2 64 100% from the previous year) from financial services Novi Sad, Užice, Niš and Kragujevac held 42 public

Source: National Bank of Serbia. 12 13 RESPONSIBILITY TO THE COMMUNITY

Source: National Bank of Serbia. 12 13 lectures in 30 towns and villages across Serbia, attended Exhibitions by 1,600 citizens. The hall of the NBS Slavija building was the venue of Citizens had the opportunity to learn about financial the following exhibitions and cultural events: services through 90 presentations. They expressed most interest in the following topics: the rights of financial  “Life Balance” photo exhibition; services consumers, refinancing loans, aspects to bear  “Exhibition of photographs of NBS employees”; in mind when borrowing, currency clause, variable  “Urban Enigmas”, exhibition of photographs by interest rate, agricultural loans, agricultural insurance Edo Iglič; and savings.  Multimedia exhibition “Parisian Stories”;  “Museum Night” – concert of students of “Josip A total of 158,000 educational leaflets were distributed. Slavenski” music school;  “Prebilovci”, an exhibition of photographs and The NBS staff replied to 1,694 queries from citizens documents; visiting the regional financial education offices. Most  “Technoart”, exhibition of “Technoart” school citizens' queries involved banking services (44.2%), Serbia gathered 1,474 participants. The NBS exhibition student works; notably CHF-indexed housing loans, savings, calculation hosted by the Heritage Museum in Aleksinac “Dinar – A  “Bank Day”, exhibition of photographs of of annuities, credit cards, credit records and loan Journey Though Time” attracted 300 visitors and the volunteer actions of NBS employees; Financial education of children and youth guarantors. exhibition “Serbian Money from the 13th to the 21st  “Last Fig Leaf” – exhibition of paintings by Slobodan Century” at the National Museum in Kragujevac – 800 Amanović; As part of the NBS's cooperation with primary and visitors. A total of 16,607 persons took part in exhibitions  “Lest We Forget”, exhibition of paintings and secondary schools, faculties and other state and private Exhibitions and educational and educational activities of the NBS. sculptures; educational institutions, exhibitions at NBS buildings in  “Temples, Fortresses, Palaces – 2000 Years of Indian Kralja Petra and Nemanjina Street were visited by pupils activities Exhibitions, educational and cultural activities were Architecture”; from all around Serbia (Belgrade, Požarevac, Niš, attended by pre-school, primary and secondary school  Exhibition “Remembrance of Art – Dragana Ivanović Jagodina, Subotica, Lazarevac, Šabac, Valjevo, In the course of 2015, exhibitions, educational and cultural pupils, college and university students from Belgrade and Raić“; Aranđelovac, Savino Selo, Novi Sad, Kikinda, programmes of the NBS intended for the wider public other Serbian cities, domestic and foreign guests of the  “International Review of Composers”; Despotovac, Loznica, Novi Pazar, Petrovac na Mlavi, recorded a turnout of 14,033 visitors – 9,763 at the NBS NBS, participants in NBS seminars and study  “Handicraft and Entrepreneurship Fair of the Serbian Bečej, Koceljevo, Titel, Pančevo and Leskovac) and Kralja Petra building and 4,270 at the building at Slavija programmes, as well as citizens who visited NBS Dystrophy Association”; students of the faculties of economics in Belgrade, Niš, square. Educational programmes – workshops and exhibitions, individually or in tourist groups.  “48th Golden Feather of Belgrade – 13th Novi Sad and Subotica, Faculty of Law in Belgrade, tournaments in the board game Moneture organised at the International Biennial of Illustration”. NBS Visitor Centre and in schools and faculties across Megatrend University in Belgrade, Banking Academy in Belgrade, Faculty of Law and Business Studies in Novi Responding to the invitation of the Aleksinac Heritage Sad, Singidunum University in Belgrade and Faculty of Museum and in accordance with its Action Plan, the NBS Economics, Finance and Administration in Belgrade. Exhibition and Education Unit organised an exhibition in Aleksinac titled “Dinar – A Journey Through Time”. The Continuing years-long successful cooperation with exhibition marked the Day of Aleksinac and was held secondary schools “Sveti Sava” in Kladovo and Tourism from 5 June to 6 July, at the city's Culture and Arts Centre and Catering School in Leskovac, the NBS hosted their gallery. pupils in April and October 2015. On the occasion of October Festivities in Kragujevac, the The NBS also held workshops “Drawing a Banknote of National Museum in Kragujevac hosted the NBS My Choice”, “Distinguished Serbs on Banknotes”, “Dinar exhibition “Serbian Money from the 13th to the 21st – Our Money”, “Me and My Budget” and “My Finances” Century”. The exhibition took place from 16 October to in cities across Serbia and at the NBS building at Kralja 16 November, at Knez Mihailo's residence. Petra 12.

14 15 lectures in 30 towns and villages across Serbia, attended Exhibitions by 1,600 citizens. The hall of the NBS Slavija building was the venue of Citizens had the opportunity to learn about financial the following exhibitions and cultural events: services through 90 presentations. They expressed most interest in the following topics: the rights of financial  “Life Balance” photo exhibition; services consumers, refinancing loans, aspects to bear  “Exhibition of photographs of NBS employees”; in mind when borrowing, currency clause, variable  “Urban Enigmas”, exhibition of photographs by interest rate, agricultural loans, agricultural insurance Edo Iglič; and savings.  Multimedia exhibition “Parisian Stories”;  “Museum Night” – concert of students of “Josip A total of 158,000 educational leaflets were distributed. Slavenski” music school;  “Prebilovci”, an exhibition of photographs and The NBS staff replied to 1,694 queries from citizens documents; visiting the regional financial education offices. Most  “Technoart”, exhibition of “Technoart” school citizens' queries involved banking services (44.2%), Serbia gathered 1,474 participants. The NBS exhibition student works; notably CHF-indexed housing loans, savings, calculation hosted by the Heritage Museum in Aleksinac “Dinar – A  “Bank Day”, exhibition of photographs of of annuities, credit cards, credit records and loan Journey Though Time” attracted 300 visitors and the volunteer actions of NBS employees; Financial education of children and youth guarantors. exhibition “Serbian Money from the 13th to the 21st  “Last Fig Leaf” – exhibition of paintings by Slobodan Century” at the National Museum in Kragujevac – 800 Amanović; As part of the NBS's cooperation with primary and visitors. A total of 16,607 persons took part in exhibitions  “Lest We Forget”, exhibition of paintings and secondary schools, faculties and other state and private Exhibitions and educational and educational activities of the NBS. sculptures; educational institutions, exhibitions at NBS buildings in  “Temples, Fortresses, Palaces – 2000 Years of Indian Kralja Petra and Nemanjina Street were visited by pupils activities Exhibitions, educational and cultural activities were Architecture”; from all around Serbia (Belgrade, Požarevac, Niš, attended by pre-school, primary and secondary school  Exhibition “Remembrance of Art – Dragana Ivanović Jagodina, Subotica, Lazarevac, Šabac, Valjevo, In the course of 2015, exhibitions, educational and cultural pupils, college and university students from Belgrade and Raić“; Aranđelovac, Savino Selo, Novi Sad, Kikinda, programmes of the NBS intended for the wider public other Serbian cities, domestic and foreign guests of the  “International Review of Composers”; Despotovac, Loznica, Novi Pazar, Petrovac na Mlavi, recorded a turnout of 14,033 visitors – 9,763 at the NBS NBS, participants in NBS seminars and study  “Handicraft and Entrepreneurship Fair of the Serbian Bečej, Koceljevo, Titel, Pančevo and Leskovac) and Kralja Petra building and 4,270 at the building at Slavija programmes, as well as citizens who visited NBS Dystrophy Association”; students of the faculties of economics in Belgrade, Niš, square. Educational programmes – workshops and exhibitions, individually or in tourist groups.  “48th Golden Feather of Belgrade – 13th Novi Sad and Subotica, Faculty of Law in Belgrade, tournaments in the board game Moneture organised at the International Biennial of Illustration”. NBS Visitor Centre and in schools and faculties across Megatrend University in Belgrade, Banking Academy in Belgrade, Faculty of Law and Business Studies in Novi Responding to the invitation of the Aleksinac Heritage Sad, Singidunum University in Belgrade and Faculty of Museum and in accordance with its Action Plan, the NBS Economics, Finance and Administration in Belgrade. Exhibition and Education Unit organised an exhibition in Aleksinac titled “Dinar – A Journey Through Time”. The Continuing years-long successful cooperation with exhibition marked the Day of Aleksinac and was held secondary schools “Sveti Sava” in Kladovo and Tourism from 5 June to 6 July, at the city's Culture and Arts Centre and Catering School in Leskovac, the NBS hosted their gallery. pupils in April and October 2015. On the occasion of October Festivities in Kragujevac, the The NBS also held workshops “Drawing a Banknote of National Museum in Kragujevac hosted the NBS My Choice”, “Distinguished Serbs on Banknotes”, “Dinar exhibition “Serbian Money from the 13th to the 21st – Our Money”, “Me and My Budget” and “My Finances” Century”. The exhibition took place from 16 October to in cities across Serbia and at the NBS building at Kralja 16 November, at Knez Mihailo's residence. Petra 12.

14 15 Global Money Week Banking Academy, Law and Business Faculty in Novi Sad, Faculty of Business of Singidunum University, and Humanitarian and voluntary From 9 to 17 March the NBS marked the Global Money Faculty of Economics, Finance and Administration – Week with a number of activities, including workshops FEFA in Belgrade. campaigns “Me and My Budget” and “Dinar – Our Money” and Moneture tournaments in Belgrade and Subotica. Prize winners were invited to enrol in summer internship In addition to discharging its principal functions, the NBS at the NBS. is committed to humanitarian and socially beneficial Apart from visiting the exhibition space at the NBS work. It has adopted socially responsible behaviour as a building in Kralja Petra 12, pupils of the Law and Cultural events business principle and has worked hard to affirm it for Business School in Belgrade took part in the debate many years. The importance of such behaviour was fully “Saving for Future”. In cooperation with the RTS TV International Day of the Francophonie recognised by its employees, who engage actively and in station, the debate was recorded and broadcast in the show great numbers in humanitarian and voluntary campaigns “Context 21”. On the occasion of the International Day of the aimed at collecting funds, food and clothes for socially Francophonie, the NBS hosted an international exhibition vulnerable groups and children with developmental Expert lectures for secondary school economics teachers “Parisian Stories”, featuring works of renowned Serbian disabilities. were held at the NBS Slavija building. authors and authors from the former Yugoslavia created in European Heritage Days the French capital. In humanitarian actions organised by the NBS in Belgrade, Novi Sad, Niš, Kragujevac and Užice for the On 26 and 27 September the NBS took part in the Open Door Day ninth consecutive year, more than three tonnes of food European Heritage Days, dedicated to the topic “Old and were collected and distributed. Traditional Crafts – How to Preserve and Sustain Them”. For the fourth year in a row, on the first Saturday in April Guided by the NBS museum staff, visitors were walked the NBS opened its doors to the wider public and In the action “A Present for an Unknown Friend” in 2015 through the Kralja Petra building and were able to see the employees brought joy to more than 360 children with presented various programmes to citizens. This year for exhibitions and accompanying programmes – the the first time the Visitor Centre offered some programmes developmental disabilities living in residential care numismatic collection and brief films about the history of homes across Serbia. for employees' children, namely workshops “Draw a the NBS and the Institute for Manufacturing Banknotes Banknote”, “Distinguished Persons Featured on and Coins – Topčider, and about Georg Weifert – an Banknotes” and “Me and My Budget Before the New Year's and Easter holidays, the Belgrade industrialist and banker, humanist and collector. head office and the Novi Sad Branch organised Days of Belgrade humanitarian exhibitions of artwork made by children, young people and the elderly with developmental The NBS traditionally participated in the cultural event A Market of Ideas the Days of Belgrade, offering to the public its regular exhibitions during the working hours of the museum in the As part of its exhibitions and educational activities in the Kralja Petra building. field of financial education of children and youth, the NBS Exhibition and Education Unit took part in the Museum Night schools' cultural fair “A Market of Ideas”, organised by the Belgrade City Museum. At the Market of Ideas, NBS On 16 May, the NBS took part in the Museum Night, employees presented quiz games and manuals for opening the building at Nemanjina 17 for the wider teachers. public. Visitors were able to see the multimedia exhibition “Parisian Stories” and to attend the concert of the Prize tournament in Moneture orchestra and choir of the primary music school and of the chamber ensemble of the secondary music school “Josip At the initiative of the Governor and President of the Slavenski”, which marked its 78th anniversary. Council of the Governor, the NBS held the first prize tournament in the board game Moneture for seven accredited faculties of economics in Serbia: faculties of economics in Belgrade, Kragujevac and Niš, Belgrade

16 17 Global Money Week Banking Academy, Law and Business Faculty in Novi Sad, Faculty of Business of Singidunum University, and Humanitarian and voluntary From 9 to 17 March the NBS marked the Global Money Faculty of Economics, Finance and Administration – Week with a number of activities, including workshops FEFA in Belgrade. campaigns “Me and My Budget” and “Dinar – Our Money” and Moneture tournaments in Belgrade and Subotica. Prize winners were invited to enrol in summer internship In addition to discharging its principal functions, the NBS at the NBS. is committed to humanitarian and socially beneficial Apart from visiting the exhibition space at the NBS work. It has adopted socially responsible behaviour as a building in Kralja Petra 12, pupils of the Law and Cultural events business principle and has worked hard to affirm it for Business School in Belgrade took part in the debate many years. The importance of such behaviour was fully “Saving for Future”. In cooperation with the RTS TV International Day of the Francophonie recognised by its employees, who engage actively and in station, the debate was recorded and broadcast in the show great numbers in humanitarian and voluntary campaigns “Context 21”. On the occasion of the International Day of the aimed at collecting funds, food and clothes for socially Francophonie, the NBS hosted an international exhibition vulnerable groups and children with developmental Expert lectures for secondary school economics teachers “Parisian Stories”, featuring works of renowned Serbian disabilities. were held at the NBS Slavija building. authors and authors from the former Yugoslavia created in European Heritage Days the French capital. In humanitarian actions organised by the NBS in Belgrade, Novi Sad, Niš, Kragujevac and Užice for the On 26 and 27 September the NBS took part in the Open Door Day ninth consecutive year, more than three tonnes of food European Heritage Days, dedicated to the topic “Old and were collected and distributed. Traditional Crafts – How to Preserve and Sustain Them”. For the fourth year in a row, on the first Saturday in April Guided by the NBS museum staff, visitors were walked the NBS opened its doors to the wider public and In the action “A Present for an Unknown Friend” in 2015 through the Kralja Petra building and were able to see the employees brought joy to more than 360 children with presented various programmes to citizens. This year for exhibitions and accompanying programmes – the the first time the Visitor Centre offered some programmes developmental disabilities living in residential care numismatic collection and brief films about the history of homes across Serbia. for employees' children, namely workshops “Draw a the NBS and the Institute for Manufacturing Banknotes Banknote”, “Distinguished Persons Featured on and Coins – Topčider, and about Georg Weifert – an Banknotes” and “Me and My Budget Before the New Year's and Easter holidays, the Belgrade industrialist and banker, humanist and collector. head office and the Novi Sad Branch organised Days of Belgrade humanitarian exhibitions of artwork made by children, young people and the elderly with developmental The NBS traditionally participated in the cultural event A Market of Ideas the Days of Belgrade, offering to the public its regular exhibitions during the working hours of the museum in the As part of its exhibitions and educational activities in the Kralja Petra building. field of financial education of children and youth, the NBS Exhibition and Education Unit took part in the Museum Night schools' cultural fair “A Market of Ideas”, organised by the Belgrade City Museum. At the Market of Ideas, NBS On 16 May, the NBS took part in the Museum Night, employees presented quiz games and manuals for opening the building at Nemanjina 17 for the wider teachers. public. Visitors were able to see the multimedia exhibition “Parisian Stories” and to attend the concert of the Prize tournament in Moneture orchestra and choir of the primary music school and of the chamber ensemble of the secondary music school “Josip At the initiative of the Governor and President of the Slavenski”, which marked its 78th anniversary. Council of the Governor, the NBS held the first prize tournament in the board game Moneture for seven accredited faculties of economics in Serbia: faculties of economics in Belgrade, Kragujevac and Niš, Belgrade

16 17 disabilities to collect funds for programmes promoting Through a joint-collaboration project with secondary The Ten Principles of the Global Compact their development. Owing to cooperation with In 2015, the NBS donated RSD 1,950,091.80. The total schools that offer bank clerk vocational courses, schools humanitarian organisations, centres, associations and value of donations in kind (used furniture and technical were provided the following opportunities: The Ten Principles of the Global Compact in the field of schools for children with developmental disabilities, equipment) was RSD 234,834.33. protection of human and labour rights, environmental humanitarian actions organised by the NBS are becoming  one-week/two-week practice for third/fourth grade protection and the fight against corruption are based on: increasingly successful. The NBS – Institute for Manufacturing Banknotes and students in branches of member banks, the Universal Declaration of Human Rights, International Coins – Topčider contributes to social responsibility by  visit to the NBS Visitor Centre, and Labour Organisation's Declaration on Fundamental Driven by a desire to help, volunteers of the NBS take part caring for the well-being of members of the wider  thematic lectures for students and teachers. Principles and Rights at Work, Declaration on in numerous campaigns. They were particularly involved community. It continued to take part in activities for the Environment and Development, and United Nations in the campaigns “Inspired by the Strength of Giving” led protection of national and cultural identity in 2015 by This joint collaboration was formalised with a Convention against Corruption. in Čenej and Golubinci, where they took part in the spring donating a plaquette for the Dositej Obradović Foundation. Cooperation Protocol signed between the Association of cleaning of overgrown and derelict yards of houses in Economics, Law and Administration, Trade, and which persons with developmental disabilities later To help the socially vulnerable citizens, the NBS donated Hospitality and Tourism Schools in the Republic of Serbia moved. 1,200,000 of personalised health insurance cards to the and the Global Compact in Serbia. This collaboration will National Health Insurance Fund. continue in 2016. In cooperation with the Home for Children and Youth with Hearing Loss from Belgrade, an inclusive sports United Nations Global For more information on all the activities of the United tournament was organised at the Business Recreation Nations Global Compact in Serbia, please visit Centre – Topčider, in which children from this home and www.ungc.rs. employees' children participated. Compact membership

In early 2015, employees joined the national campaign to Since the Global Compact was established on 6 December 2007, the NBS, as one of the founders and an active LABOUR RIGHTS collect plastic bottle caps titled “Bottle Cap for HUMAN RIGHTS Businesses should: Handicap”, which resulted in the collection of more than member of this initiative, has been committed to Businesses should: 3. uphold freedom of association and the 500 kg of bottle caps by the end of the year. The funds promoting and affirming this voluntary association 1. support and respect the protection effective recognition of the right to earned through the recycling of caps helped procure (members from more than 160 countries), dedicated to of internationally proclaimed human rights; collective bargaining; orthopaedic aids for handicapped persons across Serbia. promoting corporate social responsibility. The Global 2. make sure that they are not complicit 4. the elimination of all forms of forced Compact requires its members to adopt, support and in human rights abuses. or compulsory labour; 5. the effective abolition Guided by the belief that we could truly become a better promote ten universal principles in the protection of human and labour rights, environmental protection and of child labour; society by doing more good and giving more, the NBS 6. the elimination of discrimination in will continue to carry out humanitarian and volunteer the fight against corruption. Over an eight-year period of employment and campaigns, expand the network of its associates and working in Serbia the number of members has increased choice of occupation. promote social responsibility. to over 100. Apart from large companies, members also include representatives of small and medium-sized enterprises, non-governmental organisations, business Ten Principles Donations associations, academic institutions, cities and trade of the Global unions. Compact Donations are regulated by the Decision on Establishing the Committee for Review of Applications for Donations and In 2015, the NBS actively participated in the work of the Humanitarian Assistance and Establishing Conditions, Working Groups for Corporate Social Responsibility in Mechanisms and Criteria of Award. On the basis of that Banking and Finance, and the Education and ENVIRONMENT Decision, funds for donations and humanitarian assistance, Development of Corporate Social Responsibility. ANTI-CORRUPTION Businesses should: 10. Businesses should work against fixed assets, intangible assets and inventory no longer in use 7. support a responsible approach As chair of the Working Group for Corporate Social corruption in all its forms, including to environmental challenges; may be granted or donated to legal persons, local extortion and bribery. Responsibility in Banking and Finance, the Bank 8. undertake initiatives to promote greater government units, educational and cultural institutions, environmental responsibility; institutions for social and health protection, non-profit collaborated with other members of the working group on 9. participate in developing environmentally organisations, associations, humanitarian organisations and projects in the field of financial education, which is the friendly technologies. other institutions. primary objective of this group.

18 19 disabilities to collect funds for programmes promoting Through a joint-collaboration project with secondary The Ten Principles of the Global Compact their development. Owing to cooperation with In 2015, the NBS donated RSD 1,950,091.80. The total schools that offer bank clerk vocational courses, schools humanitarian organisations, centres, associations and value of donations in kind (used furniture and technical were provided the following opportunities: The Ten Principles of the Global Compact in the field of schools for children with developmental disabilities, equipment) was RSD 234,834.33. protection of human and labour rights, environmental humanitarian actions organised by the NBS are becoming  one-week/two-week practice for third/fourth grade protection and the fight against corruption are based on: increasingly successful. The NBS – Institute for Manufacturing Banknotes and students in branches of member banks, the Universal Declaration of Human Rights, International Coins – Topčider contributes to social responsibility by  visit to the NBS Visitor Centre, and Labour Organisation's Declaration on Fundamental Driven by a desire to help, volunteers of the NBS take part caring for the well-being of members of the wider  thematic lectures for students and teachers. Principles and Rights at Work, Declaration on in numerous campaigns. They were particularly involved community. It continued to take part in activities for the Environment and Development, and United Nations in the campaigns “Inspired by the Strength of Giving” led protection of national and cultural identity in 2015 by This joint collaboration was formalised with a Convention against Corruption. in Čenej and Golubinci, where they took part in the spring donating a plaquette for the Dositej Obradović Foundation. Cooperation Protocol signed between the Association of cleaning of overgrown and derelict yards of houses in Economics, Law and Administration, Trade, and which persons with developmental disabilities later To help the socially vulnerable citizens, the NBS donated Hospitality and Tourism Schools in the Republic of Serbia moved. 1,200,000 of personalised health insurance cards to the and the Global Compact in Serbia. This collaboration will National Health Insurance Fund. continue in 2016. In cooperation with the Home for Children and Youth with Hearing Loss from Belgrade, an inclusive sports United Nations Global For more information on all the activities of the United tournament was organised at the Business Recreation Nations Global Compact in Serbia, please visit Centre – Topčider, in which children from this home and www.ungc.rs. employees' children participated. Compact membership

18 19 RESPONSIBILITY TO THE ENVIRONMENT

Preserving natural resources The Bank's building at Slavija is considered highly PAPER 2015 2014 points to the high level of responsibility to the automated. All the rooms have presence detectors that Head office and Branch in Belgrade 46,980 kg 86,960 kg environment and the community. automatically activate temperature regulation. The system at the head office and switches on at about 6 a.m. and heats the premises to 19°C. Branch in Novi Sad 1,309 kg 2,402 kg Regular activities at the Institute are aimed at rationalising branches When employees arrive, the temperature rises to optimal Branch in Kragujevac 5,520 kg 1,900 kg costs and informing, educating and raising awareness of 22°C. When a window opens, the heating or cooling Branch in Niš 320 kg 2,440 kg employees with the purpose of encouraging them to take system automatically stops operating. action, change their habits and become involved in the n 2015, the NBS continued to behave responsibly to Branch in Užice 280 kg 1,400 kg the community and the environment. Secondary raw company's efforts to improve its environmental protection materials were collected (paper and PET packaging), In line with the adopted Rulebook on Minimum Criteria in performance. The Institute pays particular attention to I Terms of Energy Efficiency in Public Procurement of ПЕТ 2015. waste management. Waste is classified and identified by and numerous activities were implemented in accordance with the Law on Waste Management, as envisaged by the Goods, prepared by the Ministry of Mining and Energy, Head office and Branch in Belgrade 2,520 kg origin and composition, it is carefully collected, sorted procurement of energy-efficient equipment is planned in and stored in the manner that does not adversely impact Bank's Waste Management Plan 2013–2016. Contracts Branch in Novi Sad 191 kg were concluded on the provision of services for collection, the period ahead. human health and the environment. By managing waste transport and treatment of waste of several index numbers. PET packaging is separated, according to the plan, income of the Institute increases Waste sorting at the head office and branches Branch in Kragujevac and delivered every year with respect to the sale of secondary raw Hazardous waste is deposited in the container designated to public utility companies for that purpose – the packaging for storing hazardous free of charge materials which are later reused. The waste that needs to waste. At all NBS locations, employees have been sorting and Branch in Niš / be sent to further treatment and processing is delivered to collecting paper, PET packaging and mixed waste for reliable long-term partners – authorised operators that Branch in Užice 25 kg Employees were instructed on how to use air conditioning recycling since 2009. store the waste in accordance with law. systems in order to extend the lives of these machines, and most importantly, to save energy. For these reasons the Since 2008, employees have been continuously learning Reducing harmful effects on the Also, the certificate ISO 14001:2004 means that the building in Kralja Petra uses energy-saving light bulbs and about the importance of separating secondary waste. The Institute: LED lighting. brochure “Guide through Recycling” was published, along with a number of motivational texts in the internal environment  has established an environmental protection policy Plans for 2016 include redrafting of the project to install a newspaper. Below every employee's e-mail signature and objectives, there is the message “Think before you print”, suggesting The accredited certification company Lloyd's Register  has established documented procedures for the central air conditioning system in the Bank's Kralja Petra awarded the ISO 14001:2004 certificate for the location, and upon receiving all the necessary approvals, that paper should be considered a resource used in application of the EMS system, environmental management system to the Institute for  to begin works. The objective of installing a central air everyday work. By using e-mail as a communication has performed an environmental impact assessment, channel, we point out to the importance of environmental Manufacturing Banknotes and Coins – Topčider in mid-  has established control of all environmental mediums conditioning and heating system is to increase energy July 2015. The Institute thereby confirmed its dedication efficiency, as well as to remove the air conditioning protection. Employees are also able to use a common (water, air, soil), printer and photocopier on each floor, connected to their to the improvement of environmental protection and  has specified procedures for handling hazardous systems currently located on the façade of the building joined the ranks of companies committed to the long-term which is a cultural monument of exceptional importance. PCs. materials, continuous process of enhancement of their  has carried out employee training to be able to act Thermal energy Owing to high socially-responsible awareness of environmental performance. preventively and continuously improve employees, the quantities of waste paper are getting lower  environmental protection, Year Kralja Petra Nemanjina every year. In 2015, a considerable amount of paper was In establishing a system of environmental protection  applies internal verifications determining the 2015 749,640 kWh 1,506,490 kWh saved – 40,693 kg, or 43% at the level of the entire system management and obtaining the certificate, the Institute application and efficiency of the system. of the NBS, with the exception of the Kragujevac Branch, recognised the impact of its activities, products and Water which recorded higher consumption because of the services on the environment. The system is set up in such a Activities undertaken in 2015 way that all the identified aspects are monitored and Year Kralja Petra Nemanjina continued increase in the volume of work in Enforced controlled regularly, reducing their negative 3 3 Collection. Waste 2015 3,271 m 12,632 m environmental impact. Also, preventive measures were taken in line with the established impact potential Electricity Regular collecting, sorting and final disposal of non- accidents. The policy of the Institute also includes hazardous waste generated an income of RSD Year K. Petra HT K. Petra LT Nemanjina HT Nemanjina LT monitoring of legal regulations in relation to 2,481,577.80 in 2015, up by 55% compared to 2014. 2015 627,000 kWh 210,600 kWh 2,059,890 kWh 1,091,320 kWh environmental protection and adoption of programmes and tasks in order to comply with those regulations, which HT – High tariff LT – Low tariff

20 21 RESPONSIBILITY TO THE ENVIRONMENT

20 21

Year Amount Measurement of noise at the location of the Institute established that the noise does not exceed the permitted 2014 RSD 1,585,438.19 limits in the environment.

Chemicals 2015 RSD 2,481,577.80 Controlled use of dangerous chemicals is carried out by their proper storage, labelling and handling in line with As part of the final disposal of non-hazardous waste, it is regulations, and disposal in the manner that does not important to note that the achieved recyclability of waste jeopardise human health and the environment. paper and waste metal is 100%, contributing to sustainable development. Resources In 2015 the NBS disposed of 37,660 kg of solid and The achievement of objectives of environmental 47,291 kg of liquid hazardous waste, indicating that protection helped save resources and energy. conscientious management leads to a constant increase in the amount of waste collected, delivered to the operator, Water consumption declined by 12.3% in 2015 relative to treated and processed in accordance with regulations . the year before. All the necessary reports with accurate data were The following activities are planned for the coming prepared and sent to responsible bodies. period: Efficient communication was set up with institutions and  construction of a chemicals warehouse that will apply organisations dealing with specific fields pertaining to the all prescribed measures for safe keeping and storing environment. of dangerous chemicals;  placing piezometers/sensors for the purposes of Year Liquid hazardous waste Solid hazardous waste additional control of soil and groundwater quality;  reviewing of the Waste Management Plan, to include 2014 29,021 kg 10,482 kg all changes and novelties concerning waste management that occurred in the last three years, 2015 47,291 kg 37,660 kg since the Waste Management Plan 2013–2016 came into force;  creating a brochure that will regulate rules of conduct Monitoring the quality of water, air and soil and of third parties (contractors and visitors) regarding measuring noise the environment, occupational safety and health and behaviour in case of incidents and fires. In accordance with law, concentrations of pollutants in the water and air are measured, as is the level of noise.

Measurements of wastewater quality, carried out four times per year by authorised laboratories, indicate that concentrations of pollutants in the water are within the permitted limits.

Results of measurements indicate that the measured concentrations of pollutants in the air are within the permitted limits.

22 23

Year Amount Measurement of noise at the location of the Institute established that the noise does not exceed the permitted 2014 RSD 1,585,438.19 limits in the environment.

Measurements of wastewater quality, carried out four times per year by authorised laboratories, indicate that concentrations of pollutants in the water are within the permitted limits.

Results of measurements indicate that the measured concentrations of pollutants in the air are within the permitted limits.

22 23 AWARDS

volunteer help to flood-stricken communities, children Voluntarism and solidarity of and youth with developmental disabilities, children in socially disadvantaged families, and the elderly. The NBS employees is particularly proud of the solidarity of its employees with our citizens in the flood-stricken areas. Through he NBS won the 2015 “My Choice” award in the continuous efforts and numerous activities, NBS category Volunteer Work and Employee employees managed to gather substantial amounts of TSolidarity. The award for corporate social money and aid-in-kind. responsibility is given by the “My Serbia” association, with the support of the Belgrade Chamber of Commerce Aiming to achieve even better results, NBS employees and the City of Belgrade. The “My Choice” award for will continue to enhance and diversify activities in the corporate social responsibility aims to encourage field of corporate social responsibility. The award “My companies and institutions to invest in environmental Choice” will be an additional incentive for us to improve protection and development of their communities, and to the existing and implement new activities, whilst at the take part in the improvement of living conditions of their same time helping us involve all employees and widen the employees, their families and the whole society. circle of our associates.

This award recognises the voluntary work and solidarity of NBS employees, who took part in over 15 socially responsible activities in the period behind us. These activities were aimed at providing humanitarian aid and Participation in the action “Bottle Cap for Handicap”

At the ceremony held at the Zrenjanin City Hall on 3 December 2015, the Paraplegic and Quadriplegic Association of Banat gave to the NBS a commemorative plaque as a sign of gratitude and acknowledgment of participation in the action “Bottle Cap for Handicap”.

President of the Association Goran Perlić stated in his address that the bottle caps collected over the last three years were used to purchase 29 wheelchairs, four walkers and a large number of orthopaedic aids for users from all over Serbia. He gave his thanks to all socially responsible companies and individuals that contributed to the action's huge success.

Owing to the commitment and enthusiasm of our employees, who collected plastic bottle caps with diligence and dedication, the NBS managed to collect more than half a tonne of bottle caps for the purchase of orthopaedic aids.

24 25 AWARDS

24 25 HUMANITARIAN CAMPAIGNS AND DONATIONS

Value of donations in 2015 Collection of food for the RSD 3,185,000 vulnerable population 3,000 kg

Humanitarian exhibitions of handwork made by persons with disabilities RSD 258,000

New Year gifts for vulnerable children 360 gift parcels

Voluntary activities in Golubinci, Čenej Collection of clothes for and at an inclusive sports tournament elderly ill persons 1,280 hours 190 gift parcels

Collection of bottle caps for the procurement of orthopaedic aids for persons with disabilities 500 kg Out-of-use furniture and technical equipment RSD 235,000

Donations in money to social welfare and healthcare institutions, humanitarian organisations, associations, educational and cultural institutions RSD 1,950,000

26 HUMANITARIAN CAMPAIGNS AND DONATIONS

Value of donations in 2015 Collection of food for the RSD 3,185,000 vulnerable population 3,000 kg

Humanitarian exhibitions of handwork made by persons with disabilities RSD 258,000

New Year gifts for vulnerable children 360 gift parcels

Voluntary activities in Golubinci, Čenej Collection of clothes for and at an inclusive sports tournament elderly ill persons 1,280 hours 190 gift parcels

Collection of bottle caps for the procurement of orthopaedic aids for persons with disabilities 500 kg Out-of-use furniture and technical equipment RSD 235,000

Donations in money to social welfare and healthcare institutions, humanitarian organisations, associations, educational and cultural institutions RSD 1,950,000

26 CIP - Каталогизација у публикацији Народна библиотека Србије, Београд

658(497.11)

Друштвена одговорност.../ Народна банка Србије. - 2007- . - Београд (Краља Петра 12) : Народна банка Србије, 2007- (Београд: ФДП). - 29 cm

Годишње ISSN 2217-3048 = Друштвена одговорност COBISS.SR-ID 513350999

CIP - Каталогизација у публикацији Народна библиотека Србије, Београд

658(497.11)

Годишње ISSN 2217-3048 = Друштвена одговорност COBISS.SR-ID 513350999

Issued by: National Bank of Serbia

Contact: National Bank of Serbia Kralja Petra 12 11000 Belgrade Tel: +381 11 3027 100 www.nbs.rs

This is our Communication on Progress in implementing the principles of the United Nations Global Compact.

We welcome feedback on its contents.