OREANDA-NEWS. February 04, 2007. Bank Vozrozhdenie is in the one of the five best governed companies according to a 2007 Troika Dialog survey of corporate government practice in Russia, reported the press-centre of Bank Vozrozhdenie.

The survey included 63 major Russian companies, from different industries, traded on domestic stock exchanges with a total market cap of $1,175 billion, or 84% of the value of the Russian equities market.

The companies surveyed were divided into three risk groups, low, medium and high, on the basis of a combination of four factors: transparency, accountability, investor relations practice and financial discipline.

The coverage of the financial sector included 4 companies. Bank Vozrozhdenie was among newly added companies to the corporate governance survey and was assessed as a low risk company. Bank Vozrozhdenie was considered as the most investor-friendly company of the financial sector due to current management policy and regular interaction with shareholders and investors.

 “Being open and honest with investors matches our values when dealing with our customers,” commented Neil Withers, Advisor to the Chairman, who leads the Bank’s investor relations efforts, “The more that investors know about our performance and strategies, the more they feel confident with their investment in the bank. That helps us to raise new funds under better terms from the capital markets. More resources at lower cost helps us to help our customers with their borrowing needs.”

According to the survey the 10 best-governed companies in the “Low risk” group outperformed the RTS Index by an average of 62%, providing higher returns for shareholders.

The results of the survey showed significant improvement in corporate governance in Russia and better understanding of its importance by surveyed companies over 2006-2007. Russia is becoming more attractive and less risky for investors due to better transparence and constant governance.