Annual General Shareholders’ Meeting of Bank

On April 28, 2011, the Annual General Shareholders’ Meeting of Bank Saint Petersburg took place.

Alexander Savelyev, the Chairman of the Management Board commented on the Bank’s FY 2010 results: “In 2010, we managed to achieve a lot in spite of the challenging market environment and increased competition in the banking sector. The Bank’s loan portfolio continued to grow ahead of the market; by the end of the year the Bank’s efficiency ratios were back to pre-crisis level. Our strong performance for 2010 was reflected in doubled market capitalization”.

The shareholders approved the FY 2010 Bank’s annual report, annual financial statements including the Bank’s balance sheet and income statement, and distribution of profits of the Bank according to the reporting FY 2010 results.

The General Shareholders’ Meeting made the decision on payment of dividends for 2010 on the ordinary and preferred shares in the amount of 11% of such shares’ nominal value and on type A preferred shares in the amount of the RUB equivalent of 13.5% of their placement price in USD. Aggregated sum of dividends paid is RUB 793,607,760.

By the voting results, the Bank’s Supervisory Board was elected with the following persons on its list: Indrek Neivelt, Alexander V. Savelyev, Elena V. Ivannikova, Andrey P. Bychkov, Vladimir A. Garyugin, Andrey T. Ibragimov, Felix V. Karmazinov, Nina V. Kukuruzova, Dmitry I. Troitsky Maxim Y. Vorobyov, Vyacheslav A. Zarenkov.

OJSC “BDO Sankt Petersburg” was approved as the Bank’s auditor for the Bank’s financial statements prepared in accordance with the Russian accounting standards for 2011.

The General Shareholders’ Meeting approved the revised version of the Regulations on the Revision Committee and amendments to the Banks’ Charter.

After the General Shareholders’ Meeting the Supervisory Board held its first meeting and elected Indrek Neivelt as its Chairman.