The shareholders of Raiffeisen Bank Aval approved a number of decisions at their remote meeting
The shareholders of Raiffeisen Bank Aval JSC at their general annual meeting held on 23 April 2021 approved the reports of the Supervisory Board and the Management Board on the bank’s performance results in 2020 and adopted the main directions of the bank's activities for 2021. The reports and conclusions of the Audit Firm of Ernst & Young Audit Services LLC on the Bank's activities in 2020 and the annual results of the Raif's subsidiaries in 2020 were also approved.
The shareholders’ meeting was held remotely via the national depositary system using the new service of the Central Depository of Ukraine, the web service "Meeting of Cabinets" in connection with the prohibition of mass meetings during the quarantine period throughout Ukraine.
One of the decisions taken by the shareholders was the approval of the profit of Raiffeisen Bank Aval for 2020 in the amount of UAH 4 074 830 thousand, of which UAH 700 thousand will be allocated for the payment of dividends to holders of preference shares of Raiffeisen Bank Aval, UAH 2 037 410 thousand of the profit will be allocated to the bank’s reserve fund, and UAH 2 036 720 thousand — for the payment of dividends to owners of ordinary shares of the bank.
The bank’s shareholders also elected a renewed membership of the Supervisory Board of the bank composed of 9 persons: Lukasz Januszewski as Chairman of the Supervisory Board, Andrii Stepanenko as Deputy Chairman of the Supervisory Board, Elisabeth Geyer-Schall, Thomas Matejka, Helmut Breit and Andreea Moraru as members of the Supervisory Board, and also Hanna Derevianko, Pavlo Sheremeta and Oleksiy Hrinchenko as independent members of the Supervisory Board.
The shareholders decided to change the name of the bank to Raiffeisen Bank Joint Stock Company. This decision will take effect after passing all legal procedures and making appropriate changes to the state register. Until then, the name of the company remains the same namely: Raiffeisen Bank Aval Joint Stock Company.
In regard to the decisions, approved by the shareholders, and new legislative norms coming into force, the general shareholders’ meeting also approved changes into the Articles of Association and a number of other documents of the bank through their approval in new wordings.
Raiffeisen Bank Aval JSC was founded on 27 March 1992. Since October 2005, the bank has become part of the Austrian banking group Raiffeisen Bank International AG.
As at 31 December 2020, Raiffeisen Group owned 68.26% of the shares of the bank, and the European Bank for Reconstruction and Development hold 30% of the bank’s stock.
Raiffeisen Bank Aval offers a wide range of standard and innovative services to 2.6 million clients through its nation-wide regional network of about 391 branches all around Ukraine as at the end of December 2020.