Shareholders of Raiffeisen Bank Aval approved results of 2019 and elected the Supervisory Board
The shareholders of Raiffeisen Bank Aval JSC at their general annual meeting held on 11 September 2020 approved the reports of the Supervisory Board and the Management Board on the bank’s performance results in 2019 and defined the main directions of its activities for 2020.
At the meeting, the shareholders also approved the reports and conclusions of the JSC “Ernst and Young Auditing Services” auditing company regarding the bank’s performance in 2019.
The shareholders’ meeting was held remotely via the national depositary system 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 2019 in the amount of UAH 4,748,714 thousand, of which UAH 700 thousand will be allocated for the payment of dividends to holders of preference shares of Raiffeisen Bank Aval, UAH 474,100 thousand of the profit will be allocated to the bank’s reserve fund, and UAH 4,273,914 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 Oleksandr Pochkun as independent members of the Supervisory Board.
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 30 June 2020, Raiffeisen Group owned 68.28 per cent of the shares of the bank, and the European Bank for Reconstruction and Development hold 30 per cent of the bank’s stock.
Raiffeisen Bank Aval offers a wide range of standard and innovative services to 2.5 million clients through its nation-wide regional network of about 453 branches all around Ukraine as at the end of June 2020.
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