Dmitry Orlov, the chairman of the board of directors of Bank Vozrozhdenie, was recently recognized as the best chairman of the board of a bank in Russia by Global Banking & Finance.
"This award proves that strengthening the board of directors' role is a strong step in the course of our corporate governance structure's further development. During the past years, Russia tended to implement international best practices and we at Bank Vozrozhdenie always tried to be one step ahead, strongly believing that properly-built corporate governance system is a sound foundation for a successful business-model and one of our key competitive advantages," Orlov said.
The board recently approved a number of internal regulations on risk management and on executives' reporting to the members of the board. It has also improved the processes for accessing and securing the confidentiality of inside information and amended the bank's information policy in order to ensure more complete disclosure of information to shareholders and investors.
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