Vozrozhdenie Bank participated in IX International Forum of Corporate Secretaries

17 July 2015

Vozrozhdenie Bank took part in IX International Forum of Corporate Secretaries held in Moscow on 8-9 June 2015. Ekaterina Nazarova, Deputy Head of Corporate Department, represented the bank on the event. The Forum was organized by National Association of Corporate Secretaries (the NACS) and the magazine “Joint stock company: corporate governance issues” with participation of Russian Institute of Directors. Topics of the Forum covered discussion of information important for corporate secretaries’ activity, sharing experience and disputing on problems and challenges faced by corporate secretaries.

Ekaterina Nazarova presented the case on corporate secretary’s practice in relations with Vozrozhdenie Bank shareholders within the round table “Internal communications of the corporate secretary”. Ms Nazarova has put special emphasis on historical background of building a wide and diversified shareholder structure as well as importance of communications, especially direct contact with different groups of shareholders, and assessment of information expectations.

“The bank’s more than 20 years’ history is the lessons we have learned and exams we have successfully passed on corporate governance that was confirmed by the investment community many times. The Bank was several times recognized as the best Russian bank in terms of transparency and information disclosure to the benefit of the investment community by the international rating agency Standard & Poor’s. In 2013 the bank was awarded for best corporate governance in Russia by the British magazine World Finance”, said Ekaterina Nazarova in her speech.

The Forum also covered such topics as problems of implementation of Corporate Governance Code recommendations and reporting to the regulator and the Moscow Exchange. Corporate secretaries of public companies shared their opinion on quite tough requirements of the Code. Oleg Shvirkov, Director of Corporate Governance at Deloitte and Vladimir Gusakov, Managing Director on Governance Relations at Moscow Exchange, took part in the discussion. The participants concurred that implementation process for the Code is quite complicated, but essential and should include reporting that is currently analysed only formally. The dispute touched upon issues of interaction of public companies with the Bank of Russia and trade organizer Moscow Exchange. Ekaterina Nazarova supported the initiative on establishing the public mechanism to facilitate implementation, assessment and subsequent adjustment of the Corporate Governance Code.

In the end of the Forum Oleg Tsvetkov, Chairman of the Board of National Association of Corporate Secretaries, congratulated members of NACS who successfully passed the exam on the complex training programme and received the corporate secretary certificate. Ekaterina Nazarova was among these colleagues. Currently there are only 13 corporate secretaries in Russia certified by NACS.

Vozrozhdenie Bank Board of Directors has held a meeting
Information on the extraordinary General Meeting of Shareholders to be held on August 28, 2015