The Board of Directors of Bank Vozrozhdenie held its regular meeting
March 19, 2010
On the meeting the Board of Directors considered the Report on fulfillment of 2009 budget of Bank Vozrozhdenie and approved Bank’s budget for 2010.
The Board of Directors considered 2009 Report made by the Credit Risk Control Department of Bank Vozrozhdenie and recognized its activity carried out during 2009 as satisfactory. Also the Board of Directors approved a new edition of the Regulation on stress testing in Bank Vozrozhdenie.
As the Krasnodar branch changed its location the Board of Directors approved relevant alterations to the Regulation on Krasnodar branch.
A decision on termination of agreement with the Open Joint-Stock Company «Specialized Registrar «Avista» on holding a register of securities owners was taken on the meeting, as well as a decision on starting to substitute the registrar.
Open Joint-Stock Company “Registrar R.O.S.T.”, one of the leading companies on the registrar services market (license permitting to register securities owners ¹
According to therating published by the Professional Association of Registrars, Transfer-agents and Depositaries OJSC “Registrar R.O.S.T.” is:
- the first among the registrars by the number of issues whom it provides with the services;
- the sixth among the registrars by capital.
Therewith OJSC “Registrar R.O.S.T.” has a high level of insurance coverage of risks related to register activity.
Network OJSC “Registrar R.O.S.T.” has about 30 offices in many regions of Russia.
Taking into account that Bank’s shares are traded on the Russian stock exchanges Bank’s decision on transferring register to one of the leading registrars will allow to rise maintainability and efficiency of holding a register, to improve communications with the professional participants of the securities market, to widen area where registered shareholders can have service; all this will have a positive impact on quality of services and will improve the protection of shareholders’ rights.
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