25 June 2015
On 25 June 2015, the Annual General Meeting of VTB Bank shareholders (AGM) was convened at the Oktyabrsky Concert Hall in St. Petersburg. The meeting was chaired by Sergey Dubinin. More than 1,000 VTB shareholders and shareholder representatives attended the event, including remote participants. The Annual General Meeting was broadcast online via the VTB Bank website.
Shareholders discussed and voted on 19 issues on the agenda:
- Approval of VTB Bank’s Annual Report.
- Approval of VTB Bank’s Annual Financial Statements, including the Profit and Loss Statement (VTB Bank Profit and Loss Account).
- Approval of VTB Bank’s profit allocation for 2014.
- Amount, terms and form of dividend payments for 2014 and the record date to determine persons to be entitled to receive the dividend.
- Remuneration payment to Supervisory Council members who are not state employees, in compliance with VTB Bank’s regulations.
- Remuneration payments to members of the Statutory Audit Commission who are not state employees, in compliance with VTB Bank’s regulations.
- Approval of the number of VTB Bank’s Supervisory Council members.
- Election of VTB Bank’s Supervisory Council members.
- Approval of the number of VTB Bank’s Statutory Audit Commission members.
- Election of VTB Bank’s Statutory Audit Commission members.
- Approval of VTB Bank’s Auditor.
- Approval of the new version of VTB Bank’s Charter.
- Approval of the new version of the Regulation on the Procedure for Preparing, Convening and Holding of VTB Bank’s Annual General Meeting of Shareholders.
- Approval of the new version of the Regulation on VTB Bank’s Supervisory Council.
- Approval of the new version of the Regulation on VTB Bank’s Management Board.
- Approval of the new version of the Regulation on the Statutory Audit Commission.
- Termination of VTB Bank’s membership in Non-commercial Partnership National Payment Council.
- Approval of interested-party transactions which may be entered into by VTB Bank in the course of its ordinary business.
- Increase of the charter capital of VTB Bank by placement of VTB Bank registered preference shares.
Andrey Kostin, President and Chairman of the VTB Bank Management Board, said: «2014 was a challenging year for the financial and banking community. While VTB’s net profit for the year declined, our business model once again demonstrated its resilience and ability to perform. Moreover, we continue to maintain VTB’s progressive dividend policy, which we see as an important component of the bank’s investment case. For this reason we recommended payment of a dividend equivalent to the previous year. I would like to stress that the Group continues to support priority sectors of the economy and key business projects across the country. We believe that we have every opportunity to strengthen VTB’s market position.»
The voting results will be published within the timeframe established by law.
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