OREANDA-NEWS. December 29, 2014. Bank Vozrozhdenie has held the meeting of the Board of Directors where Otar Margania has been elected as the Chairman of the Board.

He has been a member of the Board since 2003 and chaired it from 2010 to 2012. In 2008-2010 he was a member of the Human Resources and Compensation Committee. Otar Margania is the second largest shareholder of the bank owning 18.65% of the authorized capital.

“When accepting an offer to chair the Board of Directors of Bank Vozrozhdenie once again, I would like to put special emphasis on my adherence to the bank’s development path. Client relationships built on the principles laid down by its founders is the core of the strategy. The bank will pursue the conservative business model with SME and retail focus funded primarily by customer deposits, while remaining flexible to the changing macroeconomic environment,” commented Otar Margania, Chairman of the Board of Directors.

In accordance with the Regulations on the Board of Directors of Bank Vozrozhdenie, Mukhadin Eskindarov was elected as the Deputy Chairman of the Board to exercise the Chairman’s functions during a period of his absence. Mr Eskindarov has been a member of the bank’s Board of Directors since 2010 and currently heads its HR and Compensation Committee. In 1992 he joined the management of the Finance University under the Government of the Russian Federation (Finance Academy, as the institution was formerly known), the alma mater of many famous Russian financial experts. He headed the Finance University in 2006.

“Over the past years, the bank has been continuously working to increase involvement of the Board of Directors in strategic issues and making key operating decisions. It is very important for us to support this course. We are happy that the Board decided to elect as the Chairman and his Deputy such bright industry professionals as Otar Margania and Mukhadin Eskindarov, who know the bank very well and share our values,” said Alexander Dolgopolov, Chairman of the Management Board of Bank Vozrozhdenie (CEO).