Bank Vozrozhdenie Board of Directors held its regular meeting

21 March 2014

Today Bank Vozrozhdenie Board of Directors held its regular meeting in the form of absentee voting (by completing questionnaires) in compliance with the approved Work plan. Some items included into the agenda of the meeting were preliminarily considered during the meetings of the Human Resources and Compensation Committee and the Audit Committee.

The Board of Directors considered fulfillment of Bank Vozrozhdenie financial plan for the year 2013 as well as the bank’s 2013 IFRS results. In addition, the Board has approved the bank’s financial plan for 2014.

Performing its function of risk management the Board has discussed the following documents:

  • Report “Credit risk analysis at Bank Vozrozhdenie” as of January 01, 2014;
  • “Summary report on stress-testing at Bank Vozrozhdenie” as of January 01, 2014;
  • Report “Operational risk analysis at Bank Vozrozhdenie” as of January 01, 2014;
  • Analytical note on the reasons of legal risk realization at Bank Vozrozhdenie in 2013.

After close consideration the bank’s risk management system was recognized by the Board of Directors as adequate to the current risk level. In order to comply with the requirements of the Federal law 208-ФЗ of 26.12.1998 “On joint-stock companies”, the bank’s Articles of Association and the Regulations on Bank Vozrozhdenie executive bodies the Board of Directors formally allowed Mrs. Ludmila Goncharova, Deputy Chairwoman of the Management Board, and Mr. Mikhail Semko, member of the Management Board heading the Legal Department to take executive positions in other companies.

Bank Vozrozhdenie announced audited RAS results for 2013
Bank Vozrozhdenie earned RUB1.5 billion of net income in 2013