The Lending Policy is developed by the Bank’s Risk Management Division and it both provides guidance to the lending functions and ensures that these functions operate within acceptable risk tolerances in line with the Group’s Risk Appetite and Strategy. The policy is reviewed and updated at least on an annual basis to reflect any changes in the Group's strategy for its lending businesses, economic conditions and the applicable laws and directives and the Group Risk Appetite. The Group's primary lending criterion is the borrower's repayment ability, both for private individuals and legal entities, combined with a number of other parameters, such as the purpose of credit facility, applicable Loan to value ratio, level and quality of collaterals provided etc. Furthermore, the Bank has guidelines on which sectors it wishes to lend based on the attractiveness of each sector, relative risk and the Bank’s strategy for specific sector financing.