Ethical business is a form of modern business. Companies must take care of ethical decision-making on a daily basis, and this especially applies to companies with operations on the international market, considering their exposure, which is greater and thus the reputational risk. Today's modern companies should form their own code of ethics in order to be able to define the acceptable behavior of all those who are directly or indirectly connected with the company's operations. The code of ethics is extremely important for all companies that want to base their business on ethical principles. The decision-making process in the company has a great influence on the ethics of business decisions. If the process is oriented towards economic calculation, regardless of the ethical dimension of the decisions made, there is a high probability that the company will make unethical decisions. The way in which the leadership makes decisions and its attitudes have a great influence on the ethical behavior of the entire company. If the management does not behave ethically, the same can be expected from the rest of the company, because they lead by example, and from that perspective the employees will mirror them. Business ethics in banking is a new form of banking business based on social and environmental issues with the task of achieving certain goals such as environmental protection, uniform development, promotion of social equality, etc. The code of ethics of the Intesa Sanpaolo Group is applied in Privredna banka Zagreb and is structured in the form of a Charter of relations between Privredna banka Zagreb and all its stakeholders. The code of ethics applied in Privredna banka Zagreb outlines the principles of behavior that every person in the company must adhere to in order to achieve trust between all stakeholders.