Vozrozhdenie Bank Board of Directors held its meeting

21 April 2015

Today Vozrozhdenie Bank Board of Directors held its meeting.

Major part of the agenda items covered preparation and organization of the annual General Meeting of the Shareholders to be held on June 1, 2015. Some of them were preliminary discussed at the meetings of the Audit Committee and the Human Resources and Compensation Committee.

Following the meeting, the Board of Directors:

· approved the list of candidates to the Audit Commission based on the recommendations of Human Resources and Compensation Committee in the absence of proposals from the shareholders

· considered the recommendations of the Audit Committee on candidates to the position of the bank’s Auditor

· recommended to the General Meeting of Shareholders:

o to make a decision on payout of dividends for 2014 on ordinary non-documentary registered shares with face value of RUB 10 each in the amount of 5% of the face value that comprises RUB 0.5 per share, and on preference non-documentary registered shares with the fixed rate of dividend and with face value of RUB 10 each — in the amount of 20% of the face value that comprises RUB 2.0 per share

o to make a decision on payment of remuneration to the members of the Board of Directors following the results of 2014 based on the Human Resources and Compensation Committee recommendations proposed according to the Regulations on remunerations and compensations for members of the Board of Directors

· approved form and text of voting ballots for the annual General Meeting of Shareholders, as well as list of information (materials) to be submitted to the shareholders in the course of preparation to the meeting

The Board of Directors has agreed and submitted for approval by the annual General Meeting of Shareholders the draft of the Amendments to the Articles of Association and new editions of a number of internal documents. These documents were developed in connection with changes in the Russian legislation, including Federal Law “On banks and banking activities”, change of the bank’s name in accordance with the requirements of the Civil Code of the Russian Federation and recommendations to application of the Corporate Governance Code (Letter of the Bank of Russia № 06-52/2463 dated April 10, 2014).

According to the requirements of the MICEX stock exchange imposed in frame of keeping the bank’s shares in the Highest quotation list, the Audit Committee annually assesses the Auditor’s opinion and results of audit review of the Annual Statutory Accounting (Financial) Reports according to the Russian Accounting Standards and Consolidated Financial Statements according to the International Financial Reporting Standards. The Board of Directors of Vozrozhdenie Bank agreed with the Auditor that the audit evidence obtained was sufficient to provide a basis for audit opinion on fairness of Annual Statutory Financial Reports and Consolidated Financial Statements for 2014 in all material aspects and included this information as part of materials for the annual General Meeting of Shareholders.

With the purpose of increasing effectiveness of the corporate governance, Vozrozhdenie Bank strives to strictly follow the Bank of Russia’s recommendations on modern methods of corporate governance at credit institutions, to improve the system of self-assessment of the Board of Directors activity, as well as to raise quality of self-assessment procedure.

As part of activities aimed at continuous improvement of corporate governance, the bank holds annual self-assessment procedure for the Board of Directors on a number of criteria in line with the best practices. The bank strictly sticks to the list of issues for assessment of corporate governance which was defined for credit organizations by the Bank of Russia in the Letters № 119-T and № 11-T. All the members of the Board of Directors participate in the survey with the opportunity to introduce proposals on improvement of effectiveness and quality of the Board’s activity. According to the survey results presented by the Human Resources and Remunerations Committee, the activity of the Board of Directors elected by the extraordinary General Meeting of Shareholders in 2014 was assessed as good.

Vozrozhdenie Bank has fully repaid EBRD loan facilities
Information on the annual General Meeting of Shareholders to be held on June 1, 2015