26 August 2008
The regular meeting of the Board of Directors of Bank Vozrozhdenie held in the form of absentee voting took place on August 22, 2008.
The following reports were discussed in the course of the Board of Directors meeting:
- Report on the activity of the Internal Control and Audit Service during H1 2008,
- Report on compliance with the rules of internal control and with internal control programs to combat legalization (laundering) of criminally obtained revenues and terrorist financing during Q2 2008,
- Report of the Controller over Bank Vozrozhdenie activity at the securities market in Q2 2008.
The Board of Directors approved the above mentioned Reports. Activity of the Internal Control and Audit Service during H1 2008 as well as the work of the Controller over Bank’s Vozrozhdenie activity at the securities market in Q2 2008 were considered as satisfactory.
The following documents were approved by the Board of Directors:
- Alteration № 7 to the Articles of Association of Bank Vozrozhdenie related to the change of Dmitrov Branch location and the change of status of Bronnitsy Branch into the additional office of Ramenskoe Branch;
- Alteration № 1 to the Regulations on Murmansk branch of Bank Vozrozhdenie related to the change of it’s location;
- Schedule of Bank Vozrozhdenie internal divisions’ revisions to be held by the Internal Control and Audit Service in H2 2008;
- Regulations on order of making large deals, deals with interested parties and deals of lending to related parties by Bank Vozrozhdenie in a new edition;
- Regulations on deals of assignment of Bank Vozrozhdenie rights on loans to legal entities.
The Board of Directors has cancelled the decision on placement of interest-bearing non-convertible secured documentary bonds of series 02 payable to bearer with obligatory centralized keeping and without option of early redemption, with redemption date on the 1,097th (One thousand ninety-seventh) day as from the initial date of bonds placement, placed via public subscription and approved increase of capital expenditures for development of the Bank’s offices network in 2008.