Statement of the Chairman of the Board of Directors

Dmitry Orlov
Chairman of the Board of Directors
Bank Vozrozhdenie

Our ethos has never changed: we serve our customers and meet their needs through the cycle of their lives and the stages of their business development.

Dear shareholders, members of the Board of Directors, clients and partners

We created our bank in 1991 and gave it the name Vozrozhdenie, what means ‘Renaissance’, for good reason. Our purpose was, and is, to be a valuable catalyst for the Russian economy, empowering people and their businesses to flourish.

We have experienced considerable challenges, politically and economically. However, I am pleased to report that Bank Vozrozhdenie has grown in terms of both assets and quality, spectrum and volume of the provided services during the last 23 years.

Our ethos has never changed: we serve our customers and meet their needs through the cycle of their lives and the stages of their business development. We continue to focus on retail customers and SMEs across Central, Southern, North-Western regions of European Russia and give them the service they need to fulfil their objectives. Our values have remained consistent: responsiveness, humanity and reliability. These principles underpin the relationships we have within our team and with our customers, partners and the community.

Our growth plan is conservative because we prefer a steady, measured journey rather than being a victim of aggressive business expansion, which may lead to the escalation of risk and the significant provision charges in the future. We will remain focused on our customer relationships and providing core banking products, notably account services, loans and deposits.

We enjoy strong recognition in our local communities and the client base loyalty that promote a steady influx of the new clients among the companies and the population. The important factors are a high level of customer referrals, a significant crossover between retail and corporate segments, that has been achieved due to the payroll services, and the productive partnerships with developers for our mortgage business.

We believe that our future growth will be supported by a balanced lending and funding policy, prudent risk management and robust corporate governance. The consistent IT development, the active promotion of the remote banking channels followed by improvements of the business model operating efficiency should become the main driving force behind the further development of the Bank. At the same time, no innovation or change should destroy or downplay the attention to our clients and a high level of personal service for everyone who comes to our offices, what has always been and will continue distinguishing our Bank in the future.

My colleague Alexander Dolgopolov has been the Chairman of the Management Board since the summer of 2012 and, together with the experienced expert team, including the heads of the main business lines, strengthened by the new professionals in the IT area and operating efficiency, has been executing our strategy effectively in the context of a slowing Russian economy and a toughened legislation. Although the past year was very difficult from the point of view of risk management, our financial performance could be recognised as satisfactory. The bank’s equity increased by 8%, reaching RUB 22.4 billion by year end.

This year the Board of Directors will closely monitor the changes in the Russian economy and, if necessary, adjust the balance of the Bank’s strategic priorities. For years the solid team of the Bank has been overcoming a series of the economic crises occurring in our country, gaining valuable experience and knowledge. I am sure this experience and knowledge enable the Bank to successfully pass the upcoming financial year.

In fact, I would like to record my thanks to the employees for their energy, expertise and commitment to our values and mission, to all our clients for their choice and loyalty during the difficult times, and all shareholders for their confidence in the future of Bank Vozrozhdenie.

Dmitry Orlov
Chairman of the Board of Directors

Composition of the Board of Directors of Bank Vozrozhdenie

  • Dmitry L. Orlov
  • Alexander. V. Dolgopolov
  • Lyudmila A. Goncharova
  • Nikolay S. Zatsepin
  • Oleg I. Lapushkin
  • Vladimir G. Malinin
  • Sergey N. Malinin
  • Otar L. Margania
  • Nikita S. Mikhalkov
  • Vladimir G. Panskov
  • Yuri V. Poletaev
  • Mukhadin A. Eskindarov

Composition of the Management Board of Bank Vozrozhdenie

  • Alexander. V. Dolgopolov
  • Alexander A. Bolvinov
  • Lyudmila A. Goncharova
  • Mark M. Nakhmanovich
  • Andrey A. Shalimov
  • Rushan A. Abdullin
  • Tatyana L. Bondareva
  • Evgeniy V. Dmitriev
  • Alexey A. Ivanov
  • Sergey N. Malinin
  • Mikhail A. Semko

Governance Leader
Bank Vozrozhdenie has been awarded the 1st prize for “Best Corporate Governance in Russia”, according to the World Finance magazine

Creating value

Focus on small and medium

Increased diversification and profitability; the Bank has a competitive advantage due to in-depth knowledge of the segment

Cross-selling in the retail segment

Quality base of potential borrowers for low-risk growth of the high-margin portfolio, more opportunities for attracting new customers

Remote sales channels

Volume growth and reduction in the cost of service; ability to attract new customers due to the high quality of the sought out services

Network reformatting

The transition to a new office format, focused on sales, will allow the increase in productivity and quality of service

Optimisation of the operating model

Growth of business efficiency through centralisation and foundation for successful future development with scalability