BoD Approved Mr. Shishkhanov to Position of President of B.I.N.BANK
OREANDA-NEWS. On October 13, 2008 the Board of Directors approved Mr. Shishkhanov to the position of the President of B.I.N.BANK. Grigory Guselnikov will continue his career in the Bank as a member of the Board of Directors. Sergey Egorov was appointed as the Chairman of the Board of Directors, reported the press-centre of B.I.N.BANK.
This decision was reasoned by commitment of Mr. Shishkhanov, B.I.N.BANKs major shareholder with the long-standing reputation, to support the Bank in conditions of the current turbulence in international and Russian financial markets.
Present conditions require quick decision-making and full understanding of the Banks internal environment. Therefore, Mr. Shishkhanov is eager to strengthen the executive team with his competent managing policy. The everyday shareholder?s support and impact to the management decisions will allow the Bank to surmount the tough time of market disruption and continue to prove its strong financial position.
Mr. Shishkhanov stated: At such moments each owner shall demonstrate his commitment to the Bank by assuming the managing functions and responsibility for its further development. My decision is a manifest of my confidence in prosperous future of B.I.N.BANK. He also added that his decision was not related to any discontents with the current management team. Furthermore, he appreciated the great work which had been done during the recent several months. As a result the liquidity reserve was significantly increased, the security portfolio was duly realized and the procedure for improvement of loan portfolio quality was launched.