Vozrozhdenie Bank Board of Directors has held a meeting and decided to early terminate powers of Igor Antonov, the Chairman of the Management Board, and Tatiana Orlova, Deputy Chair of the Management Board. For the period till the election of a new Chairman of the Management Board by the Board of Directors, Andrey Shalimov, Deputy Chairman of the Management Board, has been appointed as the Acting Chairman of the Management Board. As a result, starting from September 10th Promsvyazcapital B.V. will gain operating control over the bank - the uncertain transition period of the change of control is over.

It is planned that Konstantin Basmanov who is currently the Deputy Chairman of the Management Board at Promsvyazbank will head Vozrozhdenie Bank. After the approval of his nomination by the Bank of Russia Mr. Basmanov will be appointed as the Chairman of the Management Board. A new Board of Directors will take up its duties at the start of December, actively participating in strategic management of the bank.