General Meeting of Shareholders

The General Meeting of Shareholders enjoys the highest authority over the Bank and has the following key powers: it determines the principal guidelines of the Bank’s business operation, approves plans and their performance reports, establishes and amends the Charter and determines the size of the share capital, elects members and the Chairman of the Supervisory Board, approves annual financial reports, makes decision on dividends distribution, etc. The General Meeting of Shareholders also takes decisions on all other matters reserved to the General Meeting by legislation in force and the Charter.

The Annual General Meeting takes place every year within six months after the close of the financial year. Regular meetings are convened by the Management Board, extraordinary General Meetings are initiated by the Supervisory Board or its Chairman, or a shareholder holding more than 10% of the Bank’s shares.

All decisions at the General Meeting of Shareholders are made by a simple majority of votes.