Vozrozhdenie Bank Board of Directors held its regular meeting

10 April 2015

Today Vozrozhdenie Bank Board of Directors held its regular meeting.

Some of the items were preliminary discussed at the meetings of the Audit Committee and the Human Resources and Compensation Committee.

The Board has adopted a decision to hold the Annual General Meeting (AGM) of the Shareholders in the form of joint presence at 7/4 Luchnikov pereulok, bldg. 1 on June 1, 2015 at 11 am Moscow time.

The Board has approved the Agenda of the AGM and the postal address for sending completed voting ballots.

The Agenda includes items on approval of the Annual report, annual financial statements for 2014, profit distribution according to the results of 2014, alterations to the Articles of Association and other internal documents of Vozrozhdenie Bank, as well as on election of the Board of Directors, the Audit Commission and the Auditor of the bank.

Following the meeting, the Board of Directors has determined the Record date for AGM as the end of the business day on April 21, 2015.

Among other items, the Board has approved the Business plan (Budget) for 2015.

Due to change of the bank’s name in accordance with the requirements of the Federal Law № 99-FZ dated May 5, 2014 “On amendments to the Chapter 4, Part 1 of the Russian Federation Civil Code and on revocation of particular provisions of the Russian Federation legal acts”, the following documents were approved:

  • Regulations on the Audit Committee of the Board of Directors of Vozrozhdenie Bank
  • Regulations on the Human Resources and Compensation Committee of the Board of Directors of Vozrozhdenie Bank
  • Alterations № 3 to the Order of transactions on assignment of rights on corporate loans of Vozrozhdenie Bank

The Board has approved the new edition of the Regulations on the order of large transactions, transactions with interested parties and with related parties that incorporates changes of the legislation of the Russian Federation concerning definition of the group of parties and related parties.

The Board has also approved the new edition of the Regulations on self-assessment of the Board of Directors that incorporates changes of the criteria of self-assessment according to the Board’s key objectives based on the requirements of the Corporate Governance Code adopted by the Bank of Russia on April 10, 2014 and the new Listing Rules of the Moscow Exchange.

The holding of the self-assessment and the necessity of setting its criteria is stipulated by the Bank of Russia recommendations from Letter № 11-T dated February 7, 2007 “On the list of issues for assessing the corporate governance by credit institutions” and by the requirements of the Corporate Governance Code recommended by the Bank of Russia. Regulations on self-assessment of the Board of Directors define the order and frequency of the assessment, the scope of issues to consider as well as the procedure of summarizing and presenting the results. The Board’s activity is assessed annually on the grounds of two groups of criteria: indicators resulting from the key goals and objectives of the Board of Directors and those related to the procedure of its work. Results of the self-assessment may be included to the bank’s annual report and considered in the process of defining the annual remunerations to the members of the Board of Directors.

Igor Antonov appointed as Chairman of the Management Board of Vozrozhdenie Bank
Vozrozhdenie Bank has fully repaid EBRD loan facilities