OREANDA-NEWS. April 05, 2012. VTB Bank Supervisory Council’s Strategy and Corporate Governance Committee and Staff and Remuneration Committee held a joint meeting during which they considered the results of corporate governance system assessment under the Central bank’s recommendations, reported the press-centre of VTB Bank.

The assessment technique, which was previously approved by the bank’s Strategy and Corporate Governance Committee, has allowed the committees to analyze the development strategy, arrangement of the bank risk management system, compliance control system, work order of the management bodies, information disclosure quality, conflicts of interest prevention policy, relationships with affiliated parties, as well as the observance of the professional ethics principles.

Ekaterina Petelina, Member of VTB Bank Management Board, Head of Strategy and Corporate Development Department, emphasized: “Members of the Supervisory Council were satisfied with the bank’s management performance, and highly appreciated the existing level of corporate governance. During the assessment procedure we obtained recommendations from the members of the Supervisory Council. In the future we plan to improve our risk management system, to add new competences of the management bodies to VTB Bank’s Charter in accordance with the best practices, and to extend the Supervisory Council’s performance assessment criteria”.

The participants of the meeting have also prepared offers on setting the remuneration volume for the Supervisory Council members, who are non-state employees, and recommendations on the 2011 dividend volume and payment procedure.