OREANDA-NEWS. June 25, 2008. The annual general meeting of shareholders of URSA Bank was held on June 20, 2008, and approved the Bank's annual report and financial statements for the year 2007.

The meeting made a decision to distribute the net income of URSA Bank in the amount of RUR672,682,293.93 (per Russian GAAP) as follows:  payment of dividends in the amount of RUR181,333 and USD 22,733 m (on Class 3 preferred shares), the rest to be allocated for the development of the Bank.

The newly elected Board of Directors comprises 11 members: Andrey A. Bekarev, Kirill V. Brel, Susan Gail Buyske, Ruben K. Vardanyan, Gueorgui Vassilev, Igor V. Kim, Oleg I. Kirillov, Ilia Yu. Mitelman, Alexander A. Taranov, Emirlan T. Toromyrzaev,  Arvid Turkner.

The annual meeting approved the Russian audit company Altai-Audit-Consulting to be the auditor of the Bank (per Russian GAAP) for the year 2008.