30.05.2007 /Events
 AK BARS Bank's Annual Shareholders Meeting was held
On May 28, 2007, there was held the Annual General Shareholders’ Meeting of OJSC AK BARS Bank with participation of Mintimer Shaimiev, the President of the Republic of Tatarstan. Robert Minnegaliev, Chairman of the AK BARS’ Management Board in his report at the meeting noted that AK BARS Bank was operating in the course of the Russian banking business development trends – intensive growth of capitalization and consolidation of the banking sector. In 2006, the Bank increased its share capital up to RR 19,2 billion, its assets increased by RR 30,7 billion and reached RR 102,9 billion. The Bank earned a RR 1,4 billion profit. The funds of corporate clients grew by RR 2,1 billion and totaled RR 28 billion, private clients deposits increased by RR 6 billion and reached RR 19,6 billion. The Bank’s corporate business was actively developing in compliance with the adopted Bank’s development conception up to 2010. Lending to small and mid-sized businesses was also active. Total corporate loan portfolio increased by RR 25,1 billion and by year-end reached RR 61,5 billion. Impressive growth was demonstrated by retail business. As of January 1, 2007, the Bank’s retail loan portfolio totaled RR 9,8 billion, the 2006 growth amounted to RR 5,6 billion. In 2006, the Bank entered another 7 regions of Russia. As of January 1, 2007, the Bank’s total number of branches reached 37. Last year the Bank was developing its investment business. The carried out work allowed to form the efficient and transparent set of qualitative services competitive with that of the market recognized leaders by their spectrum and functions. The meeting approved the annual report, the 2006 financial statements and profit distribution. The meeting also approved a new membership of the Board of Directors. Robert Musin was elected its Chairman.
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