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Center-invest Bank to pay RUB 274 million in dividends for 2013

At the AGM on 3 June 2014, the shareholders of Center-invest Bank, one of the TOP 50 largest banks in Russia, agreed on a dividend payout for 2013. They also approved the joint stock company’s financial statements and annual report for 2013.

The general meeting approved a RUB274m dividend payout for 2013, equivalent to 20% of the bank’s annual profits. Dividends on ordinary shares total RUB255.917m, calculated as 3.3 rubles per share with a par value of 10 rubles (33% of par), and on preference shares, RUB18.098m (20% of par).

The AGM also approved the bank’s annual report and financial statements for 2013, and elected the Board of Directors. The composition of the Board is as follows:
Chairman of the Board of Directors (President) of Center-invest Bank: Dr Vasily Vysokov, Professor and Doctor of Economics
Two independent directors: Per Fischer, Head of Financial Institutions for Eastern Europe, the CIS and the Baltics at Commerzbank AG (since 2003), member of the Board of Directors of the Russian-German Forum (since 2007); Franz-Josef Flosbach, former director of DEG KfW-Group for Europe, Central Asia and the Middle East
Members of the Board of Directors:
Tatiana Vysokova, PhD in Economics, Chairman of the Board of Trustees of the Southern Federal University Endowment Fund; Alan Popov, former head of financial institutions at the EBRD; Hans Unterdorfer, Chairman of the Executive Board of Tiroler Sparkasse Bank AG (member of Erste Group), Honorary Consul of Russia in Tyrol; Andreas Zeisler, Head of Financial Institutions at DEG.

Ernst Welteke became an advisor to Center-invest Bank’s Board of Directors and also joined the Board of Trustees of the Endowment Fund for Education and Science in the Southern Federal District.

Center-invest Bank is the largest regional bank in southern Russia. Its shareholders include: the European Bank for Reconstruction and Development (EBRD) — 27.45% of voting shares, the German Investment and Development Corporation (DEG) — 22.45%, Vasily Vysokov and Tatiana Vysokova — 17.85%, Erste Group Bank (Austria) — 9.8%, and CJSC Depositary Clearing Company (Moscow, nominee holder) — 8.1%. The bank’s branch network comprises 135 branches and sub-branches in the Rostov and Volgograd regions, Stavropol Krai and Krasnodar Krai. The bank also has a representative office in Moscow.