OREANDA-NEWS. August 05, 2010. The Board of Directors heard the report of the Board of Management on the implementation of the Bank’s Development Plan in the 1st half-year of 2010 and found satisfactory the work done by executive bodies in the reporting period, reported the press-centre of Tatfondbank.

The Board of Directors approved the Bank’s business plan for 2011-2012 for taking part in the procedure of enhancing the Bank’s capitalisation in case the General Meeting of Shareholders of the Bank makes favourable decisions on the issue.

Having considered the outcomes of the regular evaluation of the Bank’s directors’ independence, the Board of Directors recognised 7 its members as independent directors, who have proved their status as such in written form. The personal composition of independent directors did not change from the time of the previous evaluation.

The Board of Directors made decisions based on the results of consideration of the semi-annual report of the Bank’s Internal Control Function, the quarterly report of the Controller of the Bank as professional participant of securities market, the report on the implementation of previously made decisions and instructions, and the report on the implementation of measures to develop the Bank’s corporate governance system.

The Board of Directors also introduced amendments to certain internal documents of the Bank and made decisions related to spending of funds for social and charity purposes and the other issues within its competence.