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CREDIT BANK OF MOSCOW announces Supervisory Board resolutions

03.12.2014

02 December 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. Review of prevailing "sentiments" and expected trends in the international markets.
  2. Qualification of Supervisory Board members as independent directors.
  3. Election of the Bank's Senior Independent Non-Executive Director.
  4. Determination of the Supervisory Board committees' memberships.
  5. Review of the Strategy and Capital Markets Committee's report.
  6. Approval of the Regulation on the Strategy and Capital Markets Committee of the Supervisory Board of CREDIT BANK OF MOSCOW.
  7. Review of the Audit and Risk Committee's report.
  8. Approval of the Bank's consolidated interim condensed IFRS financial statements and performance results for 9M2014.
  9. Approval of the Risk Management Report for 3Q2014.
  10. Approval of the Internal Audit Division's report for 3Q2014.
  11. Approval of the Internal Audit Division's plan of work for 1H2015.
  12. Approval of the Regulation on CREDIT BANK OF MOSCOW's Internal Audit Division.
  13. Approval of the Regulation on Hotline of the Audit and Risk Committee of the Supervisory Board of CREDIT BANK OF MOSCOW.
  14. Review of the Compensation, Corporate Governance and Nominations Committee's report.
  15. Approval of the updated Supervisory Board plan of work for 2015.

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

Following the re-election of Supervisory Board members by the Bank’s Extraordinary General Shareholders' Meeting on 21 November 2014, the Supervisory Board qualified four of the newly elected members as independent directors and decided on the new membership of the Audit and Risk Committee, the Strategy and Capital Markets Committee, and the Compensation and Corporate Governance and Nominations Committee. The Supervisory Board committees' memberships are disclosed on the Bank's website.

In the course of the meeting, Supervisory Board members focused on the issues which had been reviewed by the Audit and Risk Committee, the Strategy and Capital Markets Committee and the Compensation and Corporate Governance and Nominations Committee, and discussed a number of strategic management, risk management and internal audit issues.