24 May 2013
Today bank Vozrozhdenie Board of Directors held its regular meeting.
Some items of the Board of Directors meeting agenda were preliminary discussed at the meetings of the Audit Committee and the Remuneration and Compensation Committee.
On the basis of the Bank’s IFRS financial report the Board of Directors discussed the results of the bank’s work during the first quarter and accepted them as satisfactory.
The Board of Directors considered a number of reports including the report on credit and operating risk management, the report of the Inspector controlling over V.Bank’s professional activity on the securities market, the report on internal control over prevention of insider information illegal use and market manipulation as well as 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.
Due to a number of changes introduced into the Russian current legislation including the Federal Laws “On banks and banking activity”, “On joint stock companies”, “On the securities market”, the Board of Directors preliminary approved the drafts of the following internal regulations of Bank Vozrozhdenie: Alterations #2 to the Articles of Association, Alterations #1 to the Regulations on the General Meetings of Shareholders, Alterations #1 to the Order of holding General Meetings of Shareholders, Alterations #1 to the Regulations on the Board of Directors, Alterations #1 to the Regulation on the Executive Bodies, and put their approval on the agenda of the general meeting of shareholders.
In order to comply with the Federal Law
The Board of Directors analyzed the process of the bank’s corporate governance improvement and discussed some minor items within its competence included in its earlier approved plan of work.