Related-Party Transactions

In 2014, the bank entered into 219 related-party transaction for a total amount of RUB 37.9 billion.

The General Shareholders Meeting of Vozrozhdenie Bank held on June 27, 2014 approved the following types of related-party transactions that may be entered into on standard terms in the future, within the period until the next annual General Shareholders Meeting, in the course of banking operations and transactions performed by the bank as well as the bank’s normal business activity:

  • Loans, pledges, guarantees, deposits, bank guarantees, acquisition of rights, leasing, factoring operations, issuance and placement of interbank loans, conversion transactions and other transactions in the framework of the banking licenses
  • Transactions involving the purchase, pledge, rent and disposal of real estate
  • Transactions involving the purchase and disposal of securities, including issued securities

    subject to the condition that:

  • The maximum amount of each transaction or a group of related transactions being entered into with each related party cannot be greater than RUB 12 billion
  • The maximum amount of each credit risk-bearing transaction being entered into cannot be greater than RUB 2.5 billion, with the amount of a group of related transaction being limited to RUB 5 billion
  • The material terms and conditions of related transactions performed within the limits set by the General Shareholders Meeting cannot be substantially different from the terms and conditions of similar related-party transactions

RELATED-PARTY TRANSACTIONS ENTERED INTO IN 2014

RUB million
Total amount of related-party transactions in 2014,
including:
37,885.2
interbank loans placed/raised 33,589.4
loans issued 761.3
deposits 3,529.5
other transactions 5.0

The bank entered into transactions with the following related parties: members of the Board of Directors, Chairman of the Management Board, members of the Management Board, legal entities that have these persons and/or their affiliates as executives.

Major counterparties of the bank in the above transactions included, but were not limited to, Russian Agricultural Bank and SME Bank.

The terms and conditions of each transaction (group of related transactions) that was entered into did not differ substantially from the terms and conditions of similar transactions with non-related parties when such a transaction (or a group of related transactions) was entered into.

The terms and conditions of each transaction (group of related transactions) that was entered into did not differ substantially from the terms and conditions of similar transactions with non-related parties when such a transaction (or a group of related transactions) was entered into.

The amount of each transaction (related transaction) with each related party did not exceed the threshold set by the resolution of the General Shareholders Meeting.

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