Moscow, Russia - December 10, 2019. Sberbank announces the results of its Supervisory Board meeting. Resolutions adopted by the Supervisory Board of Sberbank are the following:
Contents of the resolutions adopted by the Supervisory Board of Sberbank:
- To note the information on the status of Sberbank Development Strategy until 2020.
- To approve the risk materiality threshold for the purpose of adjusting the remuneration of risk-taking employees in 2020.
- To approve the scenario and take into account the results of stress testing of Sberbank and Sberbank Group for 2020-2022.
- To approve amendments to the Risk Appetite of Sberbank and the Risk Appetite of Sberbank Group. To approve the planned capital levels, the planned capital structure and the planned capital adequacy level for Sberbank and the Sberbank Group for 2020.
- To approve submitting applications to the Bank of Russia to obtain authorization to apply banking risk management methodologies and quantitative risk assessment models used to determine the internal ratings-based amount of credit risk for the purposes of calculating the capital adequacy ratios of Sberbank, as well as a request for updating the Gradual IRB Adoption Plan of Sberbank. Approve the use of banking risk management methods and quantitative risk assessment models used to determine credit risk based on IRB.
- To agree with the proposal of Sberbank's Executive Board and the recommendation of the Audit Committee of Sberbank's Supervisory Board and recommend that the Annual General Meeting of Shareholders decide to appoint PricewaterhouseCoopers Audit as Sberbank's auditor for 2020 and Q1 2021.
- To take note of the information on performance of Sberbank laboratories.
- To take note of the report on the implementation status of the Sberbank Information Policy and the outlook for marketing.
Sberbank of Russia
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