The Meeting of the Board of Directors of OJSC AK BARS Bank was held on 28 February 2012

The Board of Directors acknowledged the implementation progress of AK BARS Bank’s key development areas in 2011 and the Report by the Internal Control Department on the inspections results in AK BARS Bank in 2011. The Board of Directors also approved the structure and the contents of AK BARS Bank’s Annual Report.

In 2011, the total volume of Bank’s assets increased by 59.5 billion rubles and reached 300.3 billion rubles. This indicator places AK BARS Bank 17th among 30 largest banks of Russia. The financial outcome of the Bank’s activity in 2011 was the balance sheet profit of 2 056.3 million rubles.

Furthermore, the Board of Directors approved AK BARS Bank’s related-party transactions and an interested-party transaction.

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