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Sberbank (SBER)
Sberbank announces the results of its Supervisory board meeting
17-Apr-2018 / 17:05 CET/CEST
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Sberbank holds Supervisory Board meeting
17 April 2018, Moscow - Sberbank announces the results of its Supervisory
board meeting.
The Supervisory Board listened to a report on the results of the structural
transformation of the asset and liability management function.
At the meeting the Supervisory Board members approved: the updated Risk and
Capital Management Strategy of Sberbank Group, changes to Sberbank Group's
risk appetite, and the planned levels of capital, planned structure of
capital and planned level of capital adequacy of Sberbank and Sberbank Group
in 2018.
Members of the Board listened to a briefing on the implementation of the
Cybersecurity 2018 programme at Sberbank, and approved the new version of
the Provisions on Supervisory Board Committees.
During the meeting, the Supervisory Board also covered a number of issues
related to preparing for the Annual General Meeting of Sberbank Shareholders
on 2017 results (AGM). Namely, they:
- Preliminarily approved Sberbank's 2017 Annual Report and made the decision
to include it in the list of information (materials) to be provided to
individuals who have the right to participate in the AGM.
- Approved a report on non-arm's length transactions performed by Sberbank
in 2017, which is included in Sberbank's 2017 Annual Report.
- Made the decision to propose that the AGM approves Sberbank's 2017 Annual
Report.
- Preliminarily approved Sberbank's annual accounting (financial) statements
for 2017 and made the decision to include them in the list of information
(materials) to be provided to individuals who have the right to participate
in the AGM, and also made the decision to propose that the AGM approves
Sberbank's annual accounting (financial) statements for 2017.
- Preliminarily approved the distribution of Sberbank's profit and decided
that profit which is not used to pay dividends for 2017 results will remain
part of Sberbank's undistributed profit. It was also decided to recommend
the following size of dividends for 2017 results: 12.00 roubles for each
ordinary Sberbank share and 12.00 roubles for each Sberbank preferred share.
- Made the decision to propose that the AGM approves 26 June 2018 as the
date when the receivers of dividends for 2017 will be determined.
- Made the decision to agree with the Executive Board of Sberbank's proposal
and the recommendation of the Audit Committee of Sberbank's Supervisory
Board and recommend that the AGM accepts the decision to appoint
PricewaterhouseCoopers Audit JSC as the auditor for Sberbank for 2018 and Q1
2019.
- Approved the format and text of the bulletin for voting at the AGM.
- Approved the list of information (materials) to be provided to individuals
who have the right to participate in the AGM.
- Made the decision to consent to the performance of non-arm's length
transactions.
- The Supervisory Board also made the decision to approve the draft of the
new version of Sberbank's Charter.
# # #
Sberbank
Alexander Baziyan
Press office
Tel. +7(495) 957 5721
media@sberbank.ru
Sberbank is Russia's largest bank and a leading global financial
institution. Sberbank holds almost one third of aggregate Russian banking
sector assets, it is the key lender to the national economy and the biggest
deposit taker in Russia. The Central Bank of the Russian Federation is the
founder and principal shareholder of Sberbank owning 50% of the Bank's
authorized capital plus one voting share, with the remaining 50% held by
domestic and international investors. Sberbank has more than 145 million
customers in 20 countries. Sberbank has the largest distribution network in
Russia with almost 15,000 branches, and its international operations include
UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other
countries.
The Bank holds the general banking license No.1481 issued by the Bank of
Russia. Official websites of the Bank: www.sberbank.com [1] (Sberbank Group
website), www.sberbank.ru [2].
ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070
Category Code: MSCM
TIDM: SBER
LEI Code: 549300WE6TAF5EEWQS81
Sequence No.: 5426
End of Announcement EQS News Service
675491 17-Apr-2018
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(END) Dow Jones Newswires
April 17, 2018 11:05 ET (15:05 GMT)
