Self-assessment of the Board of Directors

Regulations on Self-assessment of the Board of Directors’ activity in Vozrozhdenie Bank was approved by the Board of Directors on June 18, 2010, Minutes #10.

The regulations define the procedure of self-assessment of the Board of Directors’ activity, its periodicity, scope of issues that serves as a basis for its conduction, procedure of summarizing and documenting its results. The Board of Directors’ activity is assessed by the Board of Directors once a year on the grounds of the following criteria:

  1. Indicators resulting from the key goals and objectives of the Board of Directors:
    1. Conformation of the Board of Directors’ competencies to the goals and objectives of the bank;
    2. Assessment of the risk management system performance;
    3. Approval of development strategy of the bank’s activity and control over its implementation;
    4. Assessment of performance of the system of control over financial and business activity of the bank and its executive bodies;
    5. Provision of convocation and holding the annual General Meeting of Shareholders;
    6. Assessment of performance of shareholders’ rights protection as well as the one of the other corporate relations parties;
    7. Compliance with the Corporate Conduct Code and professional ethics principles.
  2. Indicators related with the procedure of the Board of Directors’ work:
    1. Fulfillment of the working plan of the Board of Directors;
    2. Regularity of holding meetings of the Board of Directors;
    3. Documented results of the Board of Directors’ meetings;
    4. Procedure of voting on items of the agenda of the Board of Directors’ meeting;
    5. Informational support of the Board of Directors’ activity;
    6. Assignment of responsibilities to the members of the Board of Directors;
    7. Structure of the Board of Directors.

Self-assessment results may be included into the bank’s Annual report, the Report of the Board of Directors at the annual General Meeting of Shareholders and used while defining the amount of remuneration paid to members of the Board of Directors on the basis of the results for the previous year.