NewsRSS

CREDIT BANK OF MOSCOW announces Supervisory Board resolutions

17.09.2014

16 September 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. Reviewing prevailing "sentiments" and expected trends in the international markets.
  2. Reviewing the Strategy and Capital Markets Committee's report.
  3. Reviewing the forecast of 2014 Budget implementation.
  4. Reviewing the Audit and Risk Committee's report.
  5. Approval of the Financial Statements of the Bank in accordance with IFRS for 1H2014 and Bank's performance results for 1H2014.
  6. Approval of the Internal Audit and Control Division's report for 1H2014.
  7. Approval of the Internal Audit and Control Division's performance appraisal report for 1H2014 based on the Balanced Scorecard.
  8. Approval of the revised Internal Audit and Control Division's plan of work for 2H2014.
  9. Approval of renewed internal regulations on internal audit and control in the Bank.
  10. Approval of the renewed Regulation on Audit and Risk Committee of the Supervisory Board of CREDIT BANK OF MOSCOW.
  11. Approval of the Risk Management Report for 1H2014.
  12. Approval of an interested party transaction.
  13. Reviewing the Compensation, Corporate Governance and Nominations Committee's report.
  14. Qualification of a member of the Supervisory Board under independent director criteria.
  15. Determining the number of members and membership in Audit and Risk Committee and Strategy and Capital Markets Committee of the Supervisory Board of the Bank.
  16. Approval of the renewed Regulation on the Compensation, Corporate Governance and Nominations Committee of the Supervisory Board of CREDIT BANK OF MOSCOW.
  17. Approval of nominees to the Supervisory Board of the Bank for election at the extraordinary General Shareholders' Meeting.
  18. Approval of the draft resolution, form and wording of ballots for voting on items of agenda of the extraordinary General Shareholders’ Meeting of the Bank.
  19. Approval of the list of information (materials) to be presented to the shareholders in contemplation of the extraordinary General Shareholders' Meeting of the Bank.
  20. Approval of the Supervisory Board's plan of work for 4Q2014 and 2015.

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

In the Supervisory Board's framework on corporate governance improvement the Compensation, Corporate Governance and Nominations Committee considered the issue on compliance of the Bank with the Corporate Governance Code, approved by the Central Bank of Russia, and qualified Nicholas Dominic Haag under independent director criteria.

The Supervisory Board of the Bank elected members of the Audit and Risk Committee and Strategy and Capital Markets Committee.

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, and internal audit and control issues.

In addition, the Supervisory Board of the Bank approved issues necessary for preparation of the extraordinary General Shareholders' meeting, including the list of nominees to the Supervisory Board of the Bank for election at the extraordinary General Shareholders' meeting.