PRIME-TASS. An annual shareholders meeting conducted by Radiotechbank decided Monday not to pay out dividends for 2008 and leave Rub 28.06 mln net profit at the disposal of the bank, the bank reported. It was decided not to distribute Rub 24.45 mln from net profit and allocate the remainder to bonuses and social security contributions. The bank did not pay out 2007 dividends either.
The shareholders approved an annual report, according to which the lending institution’s 2008 net profit jumped 2.3 times to Rub 28.6 mln,
The AGM adopted a decision to reduce the number of board members from 9 to 7 members. Newly elected board members are Frunze Works general director Nikolay Voronov, Classika president Denis Labuza, Radiotechbank management board chairman Lidia Kostrova, the lender’s board chairman Ildus Mingazetdinov, first deputy management board chairman Takhir Gaynutdinov, deputy management board chairman Nailya Tagirova and head of the bank’s management board secretariat Rustem Davledgildeev. The board chairman will be elected at a next board meeting.
Moreover, the lending institution’s shareholders re-elected Lidia Kostrova as management board chairman for another 5-year term and approved related party transactions, made amendments to the charter, the statute on the bank’s council and to the corporate governance code to bring it into compliance with the law.
As Kostrova noted at the AGM, this year the lender targets raising assets to Rub 1.7 bln. The forecast for equity capital is Rub 489 mln, with Rub 1.3 bln of credit investments and Rub 624 mln of household funds.
