23 May 2014
Today Bank Vozrozhdenie Board of Directors held its regular meeting.
Some items included into the agenda of the Board of Directors meeting were preliminarily considered by the Audit Committee of Bank Vozrozhdenie.
The Board of Directors summarized the the bank’s activities in Q1 2014 based on IFRS results and recognized them as satisfactory.
The Board considered a number of reports, including reports on risk management, report of the Controller over Bank Vozrozhdenie activity at the securities market as well as report on results of internal control programmes to combat misuse of insider information and market manipulation and other documents. The Board of Directors confirmed compliance of the bank’s internal control system with requirements of the current legislation, the regulator, and internal documents of Bank Vozrozhdenie and deemed the risk management system adequate to the level of risks currently assumed by V.Bank.
In the course of preparation and organisation of the annual General Meeting of Shareholders of the bank, the Board of Directors preliminarily approved the bank’s Annual Report for 2013. Due to changes in Russian legislation, including Federal Laws “Concerning banks and banking activities”, “Concerning joint stock companies”, “Concerning the securities market”, coming into effect, the Board of Directors preliminarily approved and submitted for final ratification of by the annual General Meeting of Shareholders the following Amendments to internal documents of the bank:
- Amendments № 2 to the Regulation on the General Meeting of Shareholders of Bank Vozrozhdenie,
- Amendments № 2 to the Order of holding the General Meeting of Shareholders of Bank Vozrozhdenie,
- Amendments № 2 to the Regulation on the Board of Directors of Bank Vozrozhdenie,
- Amendments № 2 to the Regulation on Executive Bodies of Bank Vozrozhdenie,
- Amendments № 2 to the Regulation on the Audit Commission of Bank Vozrozhdenie.
Following the best practices of corporate governance, in the frame of continuous work on improvement of V.Bank’s corporate governance system, and in pursuance of the CBR’s recommendations defined by the Letter №