Expectations of the State
The Ministry of Finance determines expectations for the activity of Turto Bankas for a period of four years. Turto Bankas must conduct its activity in accordance with the highest standards of transparency, governance, ethics and social responsibility. Turto Bankas must follow the good practice of sustainable and balanced development, recommendations of the Organisation for Economic Cooperation and Development, and good practices.
The essential goals and functions of the company are to:
- implement the centralised management of state-owned real estate; perform privatisation of on the right of ownership state-owned and municipality-owned shares;
- recover debts for the state and administers the loans, state guarantees and other property obligations transferred in accordance with the agency contracts;
- administers derelict, seized, inherited by or transferred to the state real estate, shares of private and public limited liability companies.
It is expected that Turto Bankas will be effectively managed and in the long term will become a professional, modern company providing high quality state-owned real estate management and maintenance services. It will be capable of providing state institutions and establishments with the necessary real estate, effectively and transparently perform the management of centralised state-owned real estate and other functions entrusted to it.
One of the most important indicators, which Turto Bankas must reach, is to optimise the scope of state-owned administrative real estate. This means that the state strives to have only as much administrative assets as it is necessary for the performance of functions.
Turto Bankas, by decreasing their cost price, must also remain financially sustainable, increase the scope, effectiveness and quality of services being provided. Turto Bankas intends to become a company oriented towards the needs of the client. The company must apply most advanced measures to prevent corruption and manage the risks, and apply the good governance practice.
All these goals raised by Turto Bankas cannot be implemented without the engagement of employees that love their work. Which is why one of the most important goals, to which much attention is paid, is the increase of the engagement of employees.
Turto Bankas, by having regard to the entrusted special obligations and functions, state expectations, current situation and already achieved results, annually reviews its strategy. The most important strategic goals of Turto Bankas are provided below.