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VTB holds 2012 Annual General Meeting of Shareholders in Moscow

 
8 June 2012

On 8 June 2012, the Annual General Meeting of JSC VTB Bank’s shareholders (the AGM) was convened at the Russia State Concert Hall in Moscow. The meeting was chaired by Sergey Dubinin, Chairman of VTB Bank Supervisory Council. About 500 VTB shareholders and their representatives attended the meeting.

For the first time, the event was broadcast live online via VTB Bank’s official website. 817 Internet users watched the meeting.

Shareholders discussed and voted on 15 issues on the agenda:

  1. Approval of JSC VTB Bank Annual Report.
  2. Approval of JSC VTB Bank Annual Financial Statements including Profit and Loss Statement (JSC VTB Bank Profit and Loss Account).
  3. Approval of JSC VTB Bank profit allocation for the year 2011.
  4. Amount, time and form of dividend payments for 2011.
  5. Remuneration payment to Supervisory Council members who are not state employees, in compliance with JSC VTB Bank by-laws.
  6. Approval of the number of JSC VTB Bank Supervisory Council members.
  7. Election of JSC VTB Bank Supervisory Council members.
  8. Approval of the number of JSC VTB Bank Statutory Audit Commission members.
  9. Election of JSC VTB Bank Statutory Audit Commission members.
  10. Approval of JSC VTB Bank’s Auditor.
  11. Approval of the new edition of JSC VTB Bank Charter.
  12. Approval of the new edition of the Regulation on JSC VTB Bank Supervisory Council.
  13. Approval of the new edition of the Regulation on JSC VTB Bank Management Board.
  14. Termination of JSC VTB Bank’s membership of the Russian Europay Members Association.
  15. Approval of interested party transactions to be entered into by JSC VTB Bank during its standard commercial business.

Shareholders were addressed by Andrey Kostin, President and Chairman of the Management Board; Vasily Titov, First Deputy President and Chairman of the Management Board; Herbert Moos, Deputy President and Chairman of the Management Board; Andrey Puchkov, Deputy President and Chairman of the Management Board; and Olga Avdeeva, Chief Accountant.

Andrey Kostin said: “One of the main results of our work in 2011 was strengthening VTB Group’s leadership in all major business segments. The Group’s net profit under IFRS for 2011 amounted to a record-breaking RUB 90.5 billion, which is 65% up year-on-year. In April 2012 VTB Group bought back shares from some of those who purchased shares in our 2007 IPO. This measure is one-off in nature and not normal for market relations, but is undoubtedly of great social importance. As a result, almost 75,000 shareholders were able to get back the money they invested in the bank’s shares in 2007 practically without any losses. We are convinced that confidence in the VTB brand is a basis for the Group’s further successful development, and VTB will set up new financial records with the support of its shareholders”.

The results of voting on the AGM agenda will be published within the time frames set by legislation. 


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