Sitting of AK BARS Bank Board of Directors took place in Almetyevsk on July 31, 2009

31.07.2009

Visiting sitting of AK BARS Bank Board of Directors took place in Almetyevsk on July 31, 2009.

Within the framework of the agenda the members of the Board of Directors reviewed the Report of AK BARS Bank Management Board concerning the fulfillment of the annual financial plan of Joint Stock commercial bank AK BARS for the second quarter and the first half-year of 2009; read over to the Report of the Internal Control Service covering the results of the inspection of Joint Stock commercial bank AK BARS for the first half-year 2009 and discussed actions to correct the identified defaults. Report covering the work of internal control service improvement, including forming up of the work of internal audit and compliance division was also considered.

Chairman of Joint Stock commercial bank AK BARS Robert Minnegaliev summarized the key results of the activity of the Bank for the first half-year 2009. The Bank demonstrated asset growth by 754 mln RUR in the reporting period. The assets reached the figure of 217877,3 mln RUR.

Balance sheet profit amounted to 457,9 mln RUR by the results of financial activity of the Bank in the second quarter of 2009. Net profit by the results of the second quarter of 2009 after taxation made up 447 mln RUR.

The members of the Board of Directors also studied the issues concerning participation of AK BARS Bank in the authorized capital of the newly established subsidiary «Socialnaya Karta» in the Republic of Tatarstan" (Open JSC); the issues regarding the usage by the Bank of the resources of the electronic trade-information system of Tatarstan for purchase and sales of goods. The Board of Directors also approved related-party deals.

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