SMP Bank plans to dissolve the Board of Directors

AK&M 23 November 2022 13:44

Shareholders of SMP Bank JSC at an extraordinary meeting on December 27, 2022 will consider the issue of early termination of the powers of members of the Board of Directors. This is evidenced by the bank's message.

The functions of the board of directors are supposed to be transferred to the executive body of the bank. Such a proposal is based on the operation of Federal Law No. 292-FZ of 07/14/2022, according to which the Board of directors may not be formed in organizations in respect of which restrictive measures have been introduced by foreign states and international organizations by a decision of the shareholders' meeting. In this case, the functions of the board of directors are performed by a collegial executive body, and in its absence - by a sole executive body. This procedure will be in effect until December 31, 2023.

SMP Bank (TIN 7750005482) is the head bank of the group, which includes, in addition to the rehabilitated Mosoblbank, Finansbusinessbank, Inresbank, also insurance and leasing companies. The Bank has been operating in the Russian market since 2001.