Meeting of AK BARS BANK Board of Directors held on 26 February

The Bank’s Board of Directors reviewed the implementation progress of key development areas of OJSC AK BARS BANK in 2012 and approved a report of the Internal Control Service on inspection results in OJSC AK BARS BANK in 2012. The structure and content of AK BARS BANK’s Annual Report was also approved.

In 2012, the Bank’s assets increased by 36.4 bln rubles and reached 336.7 bln rubles. AK BARS Bank is rated 17thby assets among 30 largest Russian banks.

Furthermore, members of the Board of Directors approved a related-party transaction and a it was made a decision to write-off bad debts. The question of the use of AK BARS BANK’s Sponsorship Fund resources was also reviewed.

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