OREANDA-NEWS. June 04, 2010. Annual general meeting of AK BARS Bank’s shareholders took place in Kazan in the building of Cultural-Sport complex Youth center ‘AK BARS’, reported the press-centre of AK BARS Bank.

The shareholders approved the annual report, annual financial statements and the distribution of profit for the financial 2009 year recommended by the Board of Directors. The meeting was attended by the President of the Republic of Tatarstan Rustam Minnikhanov and the Chairman of the National Bank of the Republic of Tatarstan Evgeny Bogachev.

The Chairman of the Management Board Robert Minnegaliev summed up the key results of the Bank’s activity in 2009. Within the reporting period the Bank’s assets increased by 9.4 billion rubles or by 4.3% and by the end of the year reached 226.5 billion rubles. Equity capital of AK BARS Bank as of January 1, 2010 amounted to 36,6 billion rubles. The capital of the Bank increased by 9 billion rubles last year due to additional share issue. Customer deposits increased by 13,3% and reached at the end of December 2009 121,2 billion rubles – deposits of the population increased during this period by 7,7 billion rubles or by 32,7% and totaled 31,4 billion rubles, deposits of legal entities grew up by 6.5 billion rubles or 7,8% and amounted to 89,8 billion rubles. 

Credit portfolio of corporate customers increased by 7% and amounted to 135,6 billion rubles at the end of 2009 compared to its onset. Profit received by the Bank in 2009 amounted to 625.9 million rubles. Interest income on loans to customers amounting to 21,7 billion rubles take the major share out of it. Net profit in 2009 (after taxation) totaled 602 million rubles. The auditors of AK BARS Bank - LLC “Sredne-Volzhskoye Expert Bureau” and auditing company PricewaterhouseCoopers Audit were approved at the meeting.

The shareholders also approved amendments into the Statutes of the Bank and into the Regulation “About the general meeting of shareholders”. In addition, the shareholders identified the number of members of the Board of Directors, elected the members of the Board of Directors and of the Auditing Committee of AK BARS Bank, and approved the list of related-party deals.