On 2 September 2011, VTB Bank Supervisory Council Committee on Strategy and Corporate Governance held a meeting, during which a number of key issues concerning JSC TransCreditBank’s integration into VTB Group and Corporate Governance at VTB Bank were considered, including the introduction of the corporate secretary position.
Following the results of the meeting, the Committee decided to approve the 2011-2013 strategy for JSC TransCreditBank’s integration into VTB Group, recommended the Supervisory Council to approve the Regulation on Corporate Secretary, and elect the corporate secretary candidate proposed by VTB Bank. The Committee also supported VTB management’s initiative on the evaluation of corporate governance by the Supervisory Council in Q4, 2011 and approved the evaluation method designed under the recommendations of the Russian Central Bank.Ekaterina Petelina, Member of VTB Management Board, Head of Strategy and Corporate Governance Department, said: “During the meeting the Committee members considered a number of strategic issues on VTB Group’s business development and the improvement of its efficiency. I am sure that the introduction of the corporate secretary position and participation of the Supervisory Council members in the evaluation of the corporate governance system will let us secure full compliance with the best international practices in this area. In its turn, the strategy developed for complete integration of JSC TransCreditBank into VTB Group by the end of 2013 will contribute to strengthening the Group’s market positions”.