Annual General Meeting of Shareholders was held in AK BARS Bank

The Annual General Meeting of AK BARS Bank shareholders took place on 31 May 2013 in Kazan.

Within the agenda framework, the Bank’s shareholders approved the annual report, the annual financial statements for 2012 and the distribution of AK BARS BANK profit for the financial year 2012 recommended by the Board of Directors. The meeting was attended by the Prime-Minister of the Republic of Tatarstan Ildar Khalikov and the Chairman of the National Bank of the Republic of Tatarstan Evgeny Bogachev.

The Chairman of the Management Board Robert Minnegaliev summed up the key results of the Bank’s activity in 2012.

Over the fiscal year, the Bank built up its scale of operation whereby the assets increased by 36.4 bln rub and by the end of the year reached 336.6 bln rub. The capital increased by 42.5% due to a subordinate loan and amounted to 50.8 bln rub in 2012. Customer deposits increased by 21% and reached 212.4 bln rub by the end of 2012. Net lending receivables over the fiscal year increased by 18.2% and reached 218.8 bln rub.

The auditors of AK BARS Bank — LLC «Sredne-Volzhskoye Expert Bureau» and auditing company PricewaterhouseCoopers Audit were approved at the meeting. The shareholders also approved amendments to the Charter of the Bank and to the Regulation ‘On General Meetings of Shareholders’, as well as adopted the new edition of Regulation ‘On the Board of Directors of AK BARS BANK’. In addition, the shareholders determined the composition and elected 11 new members of the Board of Directors and 4 members of the Auditing Committee of AK BARS Bank.

After that the list of related-party transactions which can be implemented in the future Bank’s activity were also approved. And in the end of the meeting the members of the Board of Directors were honoured with government awards.

The first sitting of the newly appointed Board of Directors elected Valery Sorokin, the General Director of OJSC Svyazneftekhim, as the Board’s Chairman.

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