Bank Vozrozhdenie has held the meeting of the Board ofDirectors

21 November 2014

Today, Bank Vozrozhdenie has held the meeting of the Board of Directors.

The majority of agenda items were preliminarily discussed at the meetings of the bank’s Audit Committee and the Human Resources and Compensation Committee.

The Board of Directors summarized V.Bank’s 9M 2014 results on the basis of statements prepared in accordance with the IFRS.

Having considered a number of reports, including quarterly reports on risk management, report of the controller over Bank Vozrozhdenie activity at the securities market, report on results of internal control programmes to combat misuse of insider information and others, the Board confirmed compliance of the bank’s internal control system with the requirements of the applicable legislation, the regulator and the internal documents of the bank, while the risk management system was deemed to be adequate to the current level of the risks assumed by the bank. The Board of Director also considered report on execution of decisions made by the Board of Directors during Q3 2014. Within the mentioned period, the Board held four regular meetings and adopted 29 resolutions which were therefore executed within due scheduling.

Following the recommendations of the Bank of Russia on modern methods of corporate governance organization at credit institutions, defined in the Letter № 11-T dated February 7, 2007 “On the list of issues for assessment of corporate governance”, the Board of Directors considered the Activities plan on corporate governance improvement at Bank Vozrozhdenie for 2014-2015 and approved it as satisfactory. In order to maintain the level of the involvement into the Bank’s activities for the implementation of the current challenges, the Board of Directors was informed on the most effective practices in corporate governance, taking into account the recent changes in legislation, the regulator’s recommendations as well as research and global trends in this field.

Annual report of Bank Vozrozhdenie featured among the best in XVII Annual Contest held by MOEX and Securities Market Magazine
Annual report of Bank Vozrozhdenie featured among the best in XVII Annual Contest held by MOEX and Securities Market Magazine