17 July 2014
Bank Vozrozhdenie won the award “Best disclosure of corporate information via website in the Internet” in “Public company” nomination, organized by the National Association of Corporate Secretaries (the NACS).
70 largest Russian companies, including those listed on Russian stock exchanges, participated in the awards. Ekaterina Nazarova, Deputy Head of Bank Vozrozhdenie Corporate Department and member of NACS, represented the bank on the ceremony held on July 10, 2014 within the VIII International forum of corporate secretaries. Alongside with Bank Vozrozhdenie, such remarkable banking players as VTB and Sberbank made the top three winners.
“Currently it becomes apparent that high standards of corporate governance are crucial for the investment appeal of the Russian issuers. While evaluating companies, investors give advantage to those respecting minority shareholders’ rights, undertaking broadened range of obligations on disclosure and applying best practices”, commented Mr. Sergey Malinin, member of the Board of Directors, member of the Management Board and the Head of Corporate Department.
“Bank Vozrozhdenie consistently expands volume of the information disclosed in response to investors’ needs and rating agencies’ recommendations. In addition to regulatory disclosure, we publish materials that could impact shareholders and investors’ interests and contribute to their decision-making process.
We strive to follow best international standards of corporate conduct and informational openness. That was proven by ‘Best Corporate Governance, Russia’ award, given by the British magazine World Finance in 2013, and multiple recognition of high level of the bank’s transparency and information disclosure to the benefit of the investment community by the international rating agency Standard & Poor’s”, added Mr. Malinin.
The contest is aimed at enhancement of the role of Russian companies’ websites in communicating with shareholders and potential investors as well as at improvement of information disclosure in the Internet.
Representatives of the corporate governance community, Moscow Exchange and Russian Directors Institute comprised the contest jury.
The websites assessment was based on the following criteria:
- Regulatory disclosure required by the legislation on securities market;
- Voluntary disclosure aimed at improvement of corporate governance and investment appeal of a company;
- Website structure, navigation, and design.
In total, websites of the contest participants were evaluated basing on more than 30 criteria. Voluntary disclosure in line with the best corporate governance practices was assessed most thoroughly.
In its modern approach to improving corporate procedures and information disclosure, Bank Vozrozhdenie sticks to recommendations of the Code of corporate governance together with principles and methods developed by the Basel committee on the basis of the Organisation for Economic Cooperation and Development’s principles.
Ensuring balance between interests of shareholders, investors, members of the Board of Directors, and management has always been one of the key priorities for the bank. Developing long-term relationships with the investment community allows us to keep enjoining investors’ trust adapting to the changing environment.
The NACS is a public organisation joining representatives of Russian joint-stock companies — corporate governance professionals, among which are corporate development directors, heads of corporate governance, corporate secretaries, heads of boards of directors’ administrations as well as corporate lawyers and others. The NACS promotes its values and contributes to its advancement, uniting the professional society and serving as a platform for sharing experiences and seeking for optimal solutions.