Ildar Khalikov holds session of Tatfondbank Board of Directors

On July 27, in Innopolis, Acting Tatarstan President, Prime Minister of the republic Ildar Khalikov chaired a regular meeting of the Board of Directors of Tatfondbank, which discussed the implementation of the bank development strategy for 2016-2018.

The Board was informed about the activities carried out to increase the bank stock. In particular, within the framework of contracts to increase the net assets, the shareholders capitalized the bank by a total amount 2.5 billion roubles. Kazanorgsintez, a part of TAIF group of companies, has placed subordinated deposit in the amount of four billion roubles in the bank. Tatspirtprom distillery acquired 100 million ordinary registered shares at the price of 10 roubles per share from the current Tatfondbank shareholders, for the total amount of one billion roubles, which is 6.93 per cent of the share capital. Thus, the government takes 35 per cent in the authorized capital of the bank directly and indirectly.

"Of course, these measures will have a positive impact on the further development of the bank and expand its capabilities. Tatfondbank is the second largest bank in terms of assets in the republic, the bank with a significant state participation. The regional economy is interested in lending to local enterprises, small businesses by Tatfondbank. This is an important factor of the economic development of Tatarstan. Therefore, please pay special attention to this issue," Ildar Khalikov said.

Chairman of the Board of Tatfondbank Robert Musin informed the Board about changes made to the organizational structure of the bank, primarily aimed at strengthening lending of large and small businesses.

The Board also considered reports on the implementation of development plan of the bank for the current year, reports of internal audit, the bank supervisor, a report on the corporate project management system for the first half of 2016.