Bank Vozrozhdenie Board of Directors held its regular meeting

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 #208-ФЗ of December 26, 1995 “On joint stock companies”, the Articles of Association as well as the Regulation on the executive bodies the Board of Directors gave its consent for Mrs. Lyudmila Goncharova, the member of the Management Board, Deputy Chairwoman of the Management Board, acting as the Member of the Management Board of the Moscow Region Chamber of Commerce. In addition the Board of Directors gave its consent for the members of the Management Board, including Deputy Chairwoman of the Management Board Mrs. Lyudmila Goncharova and the Head of the Legal Department Mr. Michael Semko, acting as the members of bank’s subsidiaries’ and affiliated companies’ management bodies.

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.

Bank Vozrozhdenie reports Q1 2013 net income of RUB333 million
Bank Vozrozhdenie ordinary shares are included into Quotation List A1 on MICEX