Meeting of AK BARS Bank Board of Directors took place on July 27, 2010
29.07.2010

The Board of Directors studied the report of AK BARS Bank Management Board on the implementation of AK BARS Bank annual financial and business plan for the 2nd quarter and the 1st half of 2010, which was introduced by the Chairman of the Management Board Robert Minnegaliev. Balance sheet profit of 219,8 million rubles is the financial result for the Bank for the first half of 2010. Percentage of the plan execution is 100%. As of 01.07.2010 deposits volume of legal entities increased by 102,5 billion rubles and deposits of individuals increased by 38.7 billion rubles respectively.

Robert Minnegaliev mentioned in his report that against the background of a significant slowdown in profit growth of Russian banks, AK BARS BANK maintained profitability of its operations in 2009 and the 1st half of 2010, which allows us to hope the situation will improve in future. In this regard, the Bank is implementing a set of measures aimed at improving the quality of assets, reduction of arrears, growth of interest and fee income, and reduction of funding costs and saving overheads.

The Board of Directors approved the Report of Internal Control Service covering the audit results of AK BARS Bank for the 1st half of 2010. The Controller Report of AK BARS Bank for the 2nd quarter of 2010 was studied and the Regulations on «Procedure of operation risk management» in the new edition were approved.

In addition, the Board of Directors studied the review and approval of lean manufacturing program and advanced information systems, corporate governance, and also approved the concept of governance and improvement of business-processes of AK BARS Bank.

Also related-party transactions were approved.

Read the following
10.07.2018
On 10 July, 2018 Moody’s Investors Service upgraded to b3 from caa1 the Baseline Credit Assessment (BCA) of Ak Bars Bank.
03.05.2018
Agency evaluated the Bank’s key indicators: assets, equity, borrowed funds, individual bank deposits, loan portfolio, additionally, assets and equity growth rates, individual and corporate loans.