VTB Bank announces the results of its Annual General Shareholders Meeting

дата25.09.2020

In accordance with the Bank of Russia recommendations and the Supervisory Council resolution the 2019 VTB Bank (PJSC) Annual General Meeting of Shareholders was convened via absentee voting. Between 1 and 24 September 2020 the total of 4,191 votes were received from shareholders, 96% of shareholders voted electronically via mobile application VTB Shareholder or via VTB Registrar website. The number of participants of the meeting grew by 78% compared to last year.

During the AGM shareholders took part in discussions and voted on 18 items of the meeting agenda. The shareholders have approved VTB Bank’s Annual Report and the Annual Financial Statements for 2019. Also, the following profit allocations for 2019 have been approved:

In Russian rubles

Total net profit for distribution

197,105,988,029.67

— Allocations to the Reserve Fund

2,567,581,278.00

— Allocations for payment of dividends on the outstanding

ordinary registered shares of VTB Bank (PJSC)

10,024,374,447.11

— Allocations for payment of dividends on the outstanding Type 1 registered preference shares of VTB Bank (PJSC)

4,144,091,328.02

— Allocations for payment of dividends on the outstanding Type 2 registered preference shares of VTB Bank (PJSC)

5,951,534,224.87

— Allocations for repayment of the loss of VTB Bank (PJSC) in 2019 as a result of migrating to accounting with application of IFRS 9 (“Financial Instruments”) (in accordance with the Bank of Russia regulatory acts)

7,683,080,361.06

Retained net profit

166,735,326,390.61

The shareholders have approved the following dividends for 2019:

  • RUB 0.00077345337561138 per one ordinary share with a nominal value of RUB 0.01;
  • RUB 0.000193614774199896 per one preference Type 1 share with a nominal value of RUB 0.01;
  • RUB 0.00193614774199896 per one preference Type 2 share with a nominal value of RUB 0.1.

The Annual General Meeting of Shareholders approved the distribution of VTB Bank’s retained profit of previous years as follows:

In Russian rubles

Total retained profit of the previous years

349,300,947,164.24

— Allocations for payment of dividends on the outstanding Type 1 registered preference shares of VTB Bank (PJSC)

4,376,602,353.66

— Allocations for repayment of the loss of VTB Bank

(PJSC) in 2019 as a result of migrating to accounting with application of IFRS 9 (“Financial Instruments”) (in accordance with the Bank of Russia regulatory acts)

344,924,344,810.58

The amount of dividend payment per one preference Type 1 share with a nominal value of RUB 0.01 out of retained profit of previous years is RUB 0.000204477847951373.

The AGM has determined the following dividend payment procedure:

Dividends will be paid in monetary form, with the amount per shareholder calculated to one kopeck and subject to rounding.

Dividends will be paid within the following timeframes and will be based on the record date:

  • within ten (10) working days: to nominal holders and beneficial owners on the basis of shareholder register who are professional securities market participants;
  • within twenty-five (25) working days: to other registered shareholders.

The record date for determining the list of persons eligible for dividend payment is 5 October 2020.

The AGM has decided to pay the following remuneration to VTB Bank Supervisory Council members who are not state employees:

  • for the work in the Supervisory Council: RUB 4,600,000 each;
  • for the chairmanship in the Supervisory Council: RUB 1,380,000;
  • for the work in a Supervisory Council Committee: RUB 460,000 each;
  • for the chairmanship in a Supervisory Council Committee: RUB 920,000 each.

Also, a decision has been made to pay the following remuneration to VTB Bank Statutory Audit Commission members who are not state employees:

  • for the work in the Statutory Audit Commission: RUB 916,310 each;
  • for the chairmanship in the Statutory Audit Commission: RUB 274,893.

The AGM has elected 11 members to the VTB Bank’s Supervisory Council:

  1. Mattias Arthur Warnig;
  2. Grigorenko Dmitriy;
  3. Yves-Thibault de Silguy (independent member);
  4. Mikhail Zadornov;
  5. Andrey Kostin;
  6. Israfil Mammadov (independent member);
  7. Moiseev Alexey;
  8. Igor Repin (independent member);
  9. Reshetnikov Maxim;
  10. Sidorenko Valeriy;
  11. Alexander Sokolov.

The shareholders have approved the VTB Bank’s Statutory Audit Commission comprised of five members.

Ernst & Young LLC has been approved as VTB Bank Auditor for the annual mandatory audit of VTB Bank for 2020.

Also, the shareholders have approved the new version of the VTB Bank Charter, the new wording of the Regulation on VTB Bank Supervisory Council, the new wording of the Regulation on VTB Bank Management Board, and the new wording of the Regulation on the VTB Bank Statutory Audit Commission.

The shareholders have also approved the participation of VTB Bank in the Big Data Association.

The voting results of the AGM will be published within the established legal timeframe at VTB Bank’s website.