OREANDA-NEWS. May 03, 2011. CB “Victoriabank” JSC held its General Shareholders’ Meeting in the presence of shareholders. All items included in the agenda were approved by majority vote, reported the press-centre of Victoriabank.

The General Meeting approved the financial statement, the Board of Directors’ Report and Audit Committee Annual Report for 2010.

The distribution of Bank's profits in 2010 was also approved. At the proposal of Bank’s Board of Directors, the General Meeting decided to pay dividends amounting to 30% of the Bank's profit for 2010. The amount of dividends per one CB “Victoriabank” JSC share, which has the nominal value of 10 lei, represented 5.76 lei. At the meeting it was decided to assign 5% of net profits to increase capital reserves. The shareholders approved the norms of profit distribution for 2011.

In order to comply with the rules foreseen by the Competitiveness Improvement Project which provides preferential financing, the Annual General Meeting on 26.04.2011 approved the increase of CB "Victoriabank" JSC statutory capital by issuing additional ordinary shares in quantity of 15,000,080 ordinary shares with a nominal value of 10 lei per share, in the amount of 150,000,800 lei paid from the Bank’s undistributed profit.

Thus, the Bank’s statutory capital after the registration of additional issue of share will constitute 250 million lei.

The General Meeting re-approved "Deloitte & Touche LLC as external Bank Auditor for 2011 year and elected new members of the Bank’s Audit Committee. The amendments to the Bank’s Statute, to the Board of Directors’ Regulation and the Norms regarding the procedure of determining the persons who act in common as shareholders of CB “Victoriabank” JSC were approved in new edition.
   
Additional Information:
In 2010, the assets of CB "Victoriabank" JSC increased by 17.9% and amounted to 7,047 billion lei, exceeding the planned level by 8.9%. The bank’s market share by this indicator increased by 1.7 p.p. and constituted 16.7% of total banking system assets.

As on December 31, 2010 the credit portfolio constituted 4,027 billion lei, or 57.2% of total assets. The Bank’s market share of total credits increased with 1.2 p.p. and constituted 15.8 p.p. by the end of the year.

In 2010, the total volume of deposits in CB “Victoriabank” JSC risen by 23% or 1.092 billion lei and constituted the amount of 5,849 billion lei. The business plan was surpassed by 9.3%. Market share in total deposits increased by 2.3 p.p. and constituted 20.4% at the end of the reporting period.

According to the financial results CB “Victoriabank” JSC obtained a profit worth 191.7 million lei in 2010 year, thus meeting the plan benchmark.