Bank Saint Petersburg Nominates New Members to its Management Board and Allocates 20% of its Net Income for Dividends

During its March 23, 2017 meeting, the Supervisory Board of Bank Saint Petersburg addressed the proposed changes in the Bank’s Management Board. A resolution was made increasing the number of Management Board members to 12 and approving the following internal changes: Mr. Alexander Konyshkov ended his term on the Management Board; Ms. Marina Danilova, HR Director, was approved for nomination to the Management Board; Ms. Oksana Panchenko, Vice President, was approved for nomination to the Management Board and appointment to the position of Deputy Chairperson of the Management Board. Formal requests for the approval of these candidates will be submitted to the North West Main Department of the Central Bank of the Russian Federation

The Supervisory Board made the resolution to recommend the Annual General Shareholders’ Meeting to be held on May 18, 2017 to pay dividends in the amount of RUB 463.7 mln, or 20% of the Bank’s net income under Russian Accounting Standards. The dividends will amount to RUB 1.05 per one ordinary share and RUB 0.11 per one preference share. The dividend record date is May 31, 2017.

Mr. Alexander Savelyev, Chairman of the Bank’s Management Board, commented: “The Bank confirms once again its intention to pay dividends on ordinary shares in the amount of at least 20% of its net income, which reflects the Bank’s strong capital position and the progress we have made in the development of our core businesses”.

The Meeting approved 2016 Annual Report of Bank Saint Petersburg and made the resolution to recommend the Annual General Shareholders' Meeting to allocate RUB 1.8 bn as retained earnings for further development of the Bank's business.

It also pre-approved the revised versions of the Bank's Charter, Regulations on the Supervisory Board and Regulations on the Management Board to be subsequently approved by the General Shareholders’ Meeting.

In addition, the Supervisory Board heard the reports of the Audit Committee, Risk Management Committee, HR and Remuneration Committee and Strategy Committee of the Supervisory Board, as well as business line reports.

Background information:

Ms. Marina Danilova: from 2014 to 2016 – HR Director of Transas Group, Member of the Group’s Management Board; in 2013 – HR Director, Deputy Chairperson of the Management Board, Baltinvestbank; from 2010 to 2012 – HR Director, Philip Morris International (St. Petersburg, Russia); from 2004 to 2010 – HR Director, Ford Motor Company (St. Petersburg, Russia). Graduated from the School of Economics of the St. Petersburg State University and the Higher School of Economics (St. Petersburg State University of Economics and Finance). Holds an MBA and a Psychology degree.

Ms. Oksana Panchenko: from 1997 to 2017 – progressively Head of Department, Head of the Corporate Services Division, Corporate Business Director, Member of the Management Board, Raiffeisenbank Russia. From 1995 to 1997 – Bank Austria Creditanstalt, Senior Customer Manager of the Corporate Services Division. Graduated from the Moscow State Pedagogical University and the Moscow International Higher Business School MIRBIS.

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