22 October 2009
Bank Vozrozhdenie was acknowledged as one of the most transparent Russian companies in 2009 according to the survey of Standard & Poor’s Corporate Governance Ratings Service and the Center of Economic and Financial Research and Development of Russian Economic School.
90 largest Russian public companies were analyzed in the course of the survey. According to 2009 results Bank Vozrozhdenie got the 12th result in the composite ranking of the companies.
Standard & Poor’s method is based on 110 criteria, aggregated in three blocks: shareholding structure and rights of the shareholders, financial and operating results, Board of Directors and Management composition and working procedures.
Bank Vozrozhdenie total score was 71% while the average result for the banking sector was at the level of 66 %. During recent years Bank Vozrozhdenie demonstrated a high level of information transparency: in
“Transparency & Disclosure by Russian Companies 2009” is a joint project of Standard & Poor’s and the Center of Economic and Financial Research and Development of Russian Economic School. In the course of the research they used only public information such as companies’ web-sites, annual reports as well as reports, provided to regulating authorities.
In general the survey results " demonstrated the widening of the gap in transparency between the leaders and outsiders together with the absence of changes in average transparency level of the companies in 2009″ — was pointed in Standard & Poor’s release.