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CREDIT BANK OF MOSCOW announces Supervisory Board resolutions

25.06.2014

24 June 2014 — an ordinary meeting of CREDIT BANK OF MOSCOW's Supervisory Board was held which, by a majority of votes, approved the following issues:

  1. Approving interested party transactions.
  2. Reviewing prevailing "sentiments" and expected trends in the international markets.
  3. Reviewing the Strategy and Capital Markets Committee's report.
  4. Approving the Report on Implementation of the Bank's Development Strategy for 2013-2017.
  5. Approving the Bank's updated Budget for 2-4Q2014.
  6. Reviewing the Audit and Risk Committee's report.
  7. Approving the Bank's IFRS financial statements for 1Q2014 and financial results for 1Q2014.
  8. Approving the Internal Audit and Control Division's interim report for 1H2014.
  9. Approving the Internal Audit and Control Division's Activity Plan for 2H2014.
  10. Approving results of the Internal Audit and Control Division's motivation chart-based self-appraisal for 1H2014.
  11. Approving the Risk Management Report for 1Q2014.
  12. Reviewing the Compensation, Corporate Governance and Nominations Committee's report.
  13. Approving results of the Supervisory Board's and its committees' self-appraisal.
  14. Approving the Bank's Dividend Policy.
  15. Approving updated key performance indicators (KPIs) for Management Board members based on the Bank's updated Budget for 2-4Q2014.
  16. Approving the Report on Performing Supervisory Board Requests in 1Q2014.
  17. Approving the updated Supervisory Board plan for 2H2014.

The meeting was attended by 10 of 12 Supervisory Board members, and Management Board members who reported on the items of agenda.

In the course of the meeting, Supervisory Board members focused on the issues which were pre-reviewed by the Audit and Risk Committee and the Strategy and Capital Markets Committee, Compensation and Corporate Governance and Nominations Committee, and discussed strategic management, risk management, HR remuneration and motivation, and internal audit and control issues.