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Prime Minister of the Republic of Tatarstan Ildar Khalikov Held a Meeting of the Board of Directors of Tatfondbank in Innopolis

A regular meeting of the Board of Directors of PJSC Tatfondbank was held on 27 July in Innopolis under the chairmanship of Prime Minister of the Republic of Tatarstan Ildar Khalikov.

The meeting considered the implementation of the Bank’s Development Strategy for 2016-2018. In particular, the members of the Board of Directors were informed of measures taken to increase the Bank’s equity. Under agreements for increasing of net assets, the shareholders recapitalised the Bank to the total amount of RUB 2.5 billion. PJSC Kazanorgsintez, a member of PSC TAIF Group of Companies, placed a subordinated deposit with the Bank in the amount of RUB 4 billion. In addition to this, JSC Tatspirtprom acquired from existing shareholders of PJSC Tatfondbank 100 million ordinary registered shares of the credit institution at the price of RUB 10 each to the total amount of RUB 1 billion (6.93% of the charter capital). As a result, the share of the state in the charter capital of the Bank totalled, directly and indirectly, 35%.

Ildar Khalikov pointed to the importance of these measures. “There is no doubt that the measures taken will have a favourable influence on the Bank’s further development and will extend its potential. Tatfondbank is the second largest bank in terms of assets from among banks registered in the territory of the republic. It is a bank with a significant participation of the state in its capital. The economy of the republic is interested in the lending by Tatfondbank of local enterprises and small businesses. This is an important factor of the economic development of Tatarstan. That is why I ask to pay special attention to this line of activity”, noted Ildar Khalikov.

Robert Musin, Chairman of the Board of Management of Tatfondbank, noted that the Bank’s organisational structure was amended to, first of all, enhance the lending of large and small business. “In the near future, our large corporate clients and representatives of small- and medium-sized enterprises will see qualitative changes in the work of Tatfondbank. It will be a more convenient, a more open and technologically advanced bank”, said Robert Musin.

One of the issues on the agenda of the meeting was establishing interaction with JSC SEZ Innopolis, Mayor’s Office of Innopolis, and ANO VO Innopolis University. Tatfondbank became a partner of the Life.SREDA Fund in the project for the development of a fintech accelerator. “The basic lines of activity shall be the development of fintech projects, blockchain technology, and partnership banking. Tatfondbank will be carrying out an expert assessment of the projects for their feasibility in the banking sector”, said Maxim Avdeev, Chief Business Development Officer of Life.SREDA Fund. There are plans to carry out joint measures on the site and together with the institutions of Innopolis in partnership between Tatfondbank and Life.SREDA Fund.

The Board of Directors also considered reports of the Board of Management on the implementation of the Bank’s Development Plan for 2016 in the first half of the year and on the implementation of the Action Plan for the development of the Bank’s corporate governance system for 2016. The Board of Directors heard a report of the Internal Audit Function for the first half of 2016, a report of the Controller of Bank for the second quarter of 2016, and a report on the corporate project management system for the first half of 2016. Besides, the Board of Directors of Tatfondbank considered other issues within its competence.