Shareholders of Raiffeisen Bank Aval approved a number of decisions at their meeting
Kyiv. 24 April. — The shareholders of the Public Joint Stock Company Raiffeisen Bank Aval at their annual general meeting held today in Kyiv have approved the reports of the Supervisory Board and the Management Board on the bank’s performance results in 2018 and defined the main directions of its activities for 2019.
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 2018.
According to the annual consolidated financial statements of Raiffeisen Bank Aval and its subsidiaries, approved by the shareholders’ meeting, the profit of the bank for 2018 amounts to almost UAH 5.1 billion.
The shareholders have decided to allocate UAH 0.7 million of the bank’s profit for the payment of dividends to holders of preference shares of Raiffeisen Bank Aval, above UAH 1.5 billion of the profit to allocate to the bank’s reserve fund, and almost UAH 3.6 billion — for the payment of dividends to owners of ordinary shares of the bank.
The bank’s shareholders have also elected a renewed membership of the Supervisory Board of the bank composed of: Martin Grüll as Chairman of the Supervisory Board, Andrii Stepanenko as Deputy Chairman of the Supervisory Board, and Elisabeth Geyer-Schall, Harald Kroeger, Helmut Breit, Andreea Moraru, Anna Derevyanko, Pavlo Sheremeta and Daniel Bilak as 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 has 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 2018, Raiffeisen Group owned 68.27 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 500 branches all around Ukraine as at the end of December 2018.
