Vozrozhdenie Bank has held the meeting of the Board of Directors

20 March 2015

Today, Vozrozhdenie Bank has held the meeting of the Board of Directors.

Most part of the agenda items had been preliminarily discussed at the meetings of the Audit Committee and the Human resources and compensation Committee of the bank’s Board of Directors.

The Board of Directors has considered fulfillment of Vozrozhdenie Bank’s financial plan for the year 2014 as well as the bank’s 2014 IFRS results.

In frame of activities aimed at continuous improvement of corporate governance and in line with requirements of the applicable legislation, legal acts and recommendations of the Bank of Russia and the trade organiser as well as the best practices, the Board of Directors has adopted a number of internal documents containing grounding principles of establishment of the corporate governance system and ethical standards guiding the bank in its activity:

  • Corporate governance code of Vozrozhdenie Bank;
  • New edition of the Corporate ethic code of Vozrozhdenie Bank;
  • Policy of preventing conflicts of interests in Vozrozhdenie Bank;
  • Anti-corruption policy of Vozrozhdenie Bank.

Besides, the Board has approved Vozrozhdenie Bank’s financial plan of activity in emergency situations, which defines stress-scenarios characterising an emergency which may affect the bank’s financial stability, and a list of activities to minimise the consequences of the scenarios realisation.

Following the recommendations of the Bank of Russia on modern approaches to organisation of corporate governance in credit institutions, brought to the notice by Letter № 11-T dated February 7, 2007 “On the list of issues for assessment of corporate governance by credit institutions”, the Board of Directors has also analyzed the progress made in implementing the Plan of activities on improvement of Vozrozhdenie Bank corporate governance for the period of 2014-2015 and deemed it satisfactory.

Bank Vozrozhdenie announced audited RAS results for 2014
Vozrozhdenie Bank recorded 2014 net profit of RUB 1.2 billion