Shareholders of Raiffeisen Bank Aval approved the results of the bank’s performance in 2016

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The FINANCIAL — At the annual shareholders’ meeting of the Public Joint Stock Company Raiffeisen Bank Aval held on April 25 in Kyiv, the shareholders have approved the reports of the Management Board and the Supervisory Board on the bank’s performance results in 2016 and defined the main directions of its activities for 2017.

At the meeting, the shareholders have also approved the reports and conclusions of the KPMG Audit PrAT auditing company regarding Raiffeisen Bank Aval’s performance in 2016.

The shareholders’ meeting has also approved the annual financial statements of Raiffeisen Bank Aval and the consolidated financial statements of the bank and its subsidiaries for the reporting year. Particularly, the net profit of the bank for 2016 amounts to more than UAH 3.8 billion according to the International Accounting Reporting Standards.

The shareholders have decided to allocate UAH 700,000 of the bank’s profit for the payment of dividends to holders of preference shares of Raiffeisen Bank Aval, and above UAH 3.6 billion — for the payment of dividends to owners of ordinary shares of the bank, and the rest UAH 191 million of the profit to allocate to the bank’s reserve fund, according to Raiffeisen Bank.

The bank’s shareholders have also elected a renewed membership of the Supervisory Board of the bank composed of: Martin Grьll as Chairman of the Supervisory Board, Kurt Bruckner, Joseph Eberle, Ferenc Berszan, Robert Fritz and Andreea Moraru as Supervisory Board members, and Anna Derevyanko and Pavlo Sheremeta as independent members of the Supervisory Board of Raiffeisen Bank Aval JSC.

In regard to new legislative norms coming into force, the general shareholders’ meeting has also approved changes into the Articles of Association through its approval in new wordings.


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