Vozrozhdenie Bank Board of Directors has held a regular meeting

28 August 2015

Vozrozhdenie Bank Board of Directors has held its meeting on 27 August 2015.

Some items of the agenda were preliminarily considered by the Audit Committee of the bank’s Board of Directors.

The Board has reviewed preliminary results of due diligence of Absolut Bank within the frame of possible merger with Absolut banks on the basis of Vozrozhdenie Bank and has taken them into account.

The Board has considered quarterly reports on risk management, having recognized the internal control system of Vozrozhdenie Bank as compliant with the requirements of the applicable legislation, statutory requirements of the regulator and internal documents of the bank. The bank’s risk management system was found adequate to the risks assumed by the bank. The Board has reviewed the Consolidated report on stress-testing at Vozrozhdenie Bank as at 1 July 2015 and the Report on the activity of the Internal Audit Service of Vozrozhdenie Bank in H1 2015.

To improve the bank’s risk management system and to comply with a number of instructions and recommendations of the Bank of Russia with regard to the requirements to risk and capital management systems in credit institutions and banking groups, the Board has approved the Regulation on risk management system at Vozrozhdenie Bank.

Vozrozhdenie Bank has published H1 2015 IFRS results
Vozrozhdenie Bank has held an extraordinary General Meeting of Shareholders