Bank Vozrozhdenie Board of Directors held its first meeting after AGM

27 June 2014

Bank Vozrozhdenie Board of Directors held its first meeting in the new membership.

The composition of the Board of Directors elected on the annual General Meeting of Shareholders remained unchanged compared to the previous year.

In accordance with the Regulation on the Board of Directors of Bank Vozrozhdenie, Mr. Dmitry Orlov was elected as the Chairman and Mr. Otar Margania — as the Deputy Chairman of the new Board of Directors. Decisions were taken via open voting unanimously by the members of the Board participating in the meeting.

The Board of Directors considered the draft Activities Plan of the Board of Directors for the period till the next annual General Meeting of Shareholders that included items to be considered by the Board on a regular basis in accordance with the bank’s internal documents as well as items on corporate governance improvement.

According to the requirements of the Bank of Russia, Corporate governance code, new listing rules of the CJSC “MICEX Stock Exchange” that came into force on June 9, 2014, as well as Regulations on the Audit Committee and the Human resources and compensation Committee, the respective Committees consisting of 3 people each were elected from the members of the new Board of Directors. Such criteria as education, professional training, working experience in the covered area and other specific knowledge necessary for the Committees to exercise their powers were taken into consideration in the election process.

Bank Vozrozhdenie holds the Annual General Meeting of Shareholders
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