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Results of JSC VTB Bank General Shareholders Meeting

 
18 June 2010

JSC VTB Bank announces results of its Annual General Shareholders Meeting held in Moscow, on 4 June 2010. Shareholders approved the Bank’s 2009 annual report and its annual financial statements, including JSC VTB Bank profit and loss statement (profit and loss account) for 2009. Also, the meeting decided to allocate the profit gained in 2009 as follows:

2009 Profit Allocation

Net profit to be allocated, total

RUB 23,751,845,838.97

Dividend payment allocations

RUB 6,067,113,975.66

Retainednetprofit

RUB 16,497,139,571.36


The shareholders decided on 2009 dividend payment amounting to RUB 0.00058 per one outstanding ordinary share of JSC VTB Bank of nominal value of RUB 0.01, with the following dividend payment procedure offered:

  • the dividends are to be paid out in money terms through crediting to shareholders’ bank accounts, and also through cash payment at JSC VTB Bank Branch in St.Petersburg at 39 Ul.Bolshaya Morskaya, St.Petersburg;
  • the amount of dividends accrued per one JSC VTB Bank shareholder shall be defined with accuracy to one kopeck, with the rounding of figures subject to mathematical rules;
  • the dividends shall be paid out within 60 (sixty) days after the relative decision is made by JSC VTB Bank Annual General Shareholders Meeting.

The meeting elected the following membership of JSC VTB Bank Supervisory Council including 11 members, namely

Proposed on behalf of the Russian Federation:

  1. Arkady V. Dvorkovich, Aide to the President of the Russian Federation. 
  2. Anna V. Popova, Deputy Minister of Economic Development. 
  3. Andrey L. Kostin, JSC VTB Bank President – Chairman of the Management Board.
  4. Alexey L. Kudrin, Deputy Prime Minister, Finance Minister. 
  5. Alexey L. Savatyugin, Director of Financial Policy Department, Finance Ministry. 
  6. Alexey V. Ulyukaev, First Deputy Chairman of the Bank of Russia.
  7. Matthias Warnig, Managing Director, Nord Stream AG (Switzerland) 


    Proposed as independent members:

  8. Grigory Yu. Glazkov, independent consultant 
  9. Nikolay M. Kropachev, Rector of St.Petersburg State University
  10. Pavel M. Teplukhin, independent consultant 
  11. Mukhadin A. Eskindarov, Rector of the Finance Academy under the Russian Government.

The shareholders also approved the membership of JSC VTB Bank Statutory Audit Commission including 6 members. CJSC “Ernst&Young Vneshaudit” was approved as JSC VTB Bank Auditor to exercise an audit of JSC VTB Bank annual financial statements for 2010.

The meeting approved the ceilings for interested-party transactions to be entered into by JSC VTB Bank during its standard commercial business.

The shareholder approved the new edition of JSC VTB Bank Charter and authorized Andrey Kostin, JSC VTB Bank President – Chairman of the Management Board to sign the new edition of JSC VTB Bank Charter and also the application for the approval of the new edition of JSC VTB Bank Charter to be submitted to the Bank of Russia.

A decision was also made to restructure JSC VTB Bank in the form of JSC VTB Bank North-West merging into it.

Finally, the shareholders voted for the remuneration to be paid out to independent members of JSC VTB Bank Supervisory Council.

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