Supervisory Board Members Remuneration System

The amount and procedures for payment of remuneration to Supervisory Board members are determined in accordance with the Regulation on Remuneration and Compensation Payable to the bank’s Supervisory Board Members (the “Regulation on Remuneration and Compensation”), approved by the annual General Shareholders’ Meeting on 14 June 2018.

The Regulation on Remuneration and Compensation provides for remuneration to certain Supervisory Board members and reimbursement of justified expenses, incurred in the performance of their duties.

Remuneration for serving as Supervisory Board members is paid to:

  • Supervisory Board members qualifying as independent directors under criteria set forth in the bank’s Charter and the Corporate Governance Code;
  • Supervisory Board members who are not employed by, or serve on the management bodies of, any legal entities forming part of the bank’s group of persons.

The annual remuneration consists of basic remuneration and remuneration for extra duties.

The aggregate annual remuneration to be paid to a Supervisory Board member may not exceed USD 325,000.

Any Supervisory Board member’s remuneration for any past quarter may be reduced by:

  • 10%, if he or she missed up to 25% of Supervisory Board meetings and absentee voting in that quarter;
  • 30%, if he or she missed more than 25% and up to 50% of Supervisory Board meetings and absentee voting sessions in that quarter;
  • 50%, if he or she missed more than 50% and up to 75% of Supervisory Board meetings and absentee voting sessions in that quarter;
  • 75%, if he or she missed more than 75% of Supervisory Board meetings and absentee voting sessions in that quarter.

The total amount of the Supervisory Board members’ remunerations for 2019 was RUB 98,084,636.75.

Supervisory Board members are reimbursed for actual, properly documented expenses related to their attendance at Supervisory Board meetings. RUB 190,124.33 was reimbursed to Supervisory Board members in 2019.

Supervisory Board Members’ Remunerations in 2017–2019 (RUB)
The annual remuneration is calculated as follows:
Basic remuneration
Annual basic remuneration of a Supervisory Board member USD 100,000
Extra remuneration
Chairman of the Supervisory Board USD 170,000
Member of a Supervisory Board committee USD 15,000 for each committee
Chairman of a Supervisory Board committee USD 25,000 for each committee
Chief Independent Non-Executive Director USD 100,000
Remuneration of the Supervisory Board Members
Director Supervisory Board committee membership and chairmanship USD, 2019
Executive Directors
Vladimir A. Chubar Member of the Strategy and Capital Markets Committee -
Alexey A. Stepanenko - -
Non-Executive Directors
Roman I. Avdeev Member of the Strategy and Capital Markets Committee -
Thomas Günther Grasse Member of the Audit and Risk Committee
Member of the Strategy and Capital Markets Committee 		185,714.29 (pre-tax)
130,000.00 (after-tax)
Sergey Yu. Menzhinsky Member of the Strategy and Capital Markets Committee -
Independent Directors
William Forrester Owens Chairman of the Supervisory Board
Chairman of the Compensation, Corporate Governance and Nominations Committee
Member of the Strategy and Capital Markets Committee 		442,857.14 (pre-tax)
310,000.00 (after-tax)
Andrew Sergio Gazitua Chief Independent Non-Executive Director
Member of the Compensation, Corporate Governance and Nominations Committee
Chairman of the Strategy and Capital Markets Committee 		342,857.14 (pre-tax)

240,000.00 (after-tax)
Andreas Klingen Member of the Audit and Risk Committee
Member of the Strategy and Capital Markets Committee 		185,714.29 (pre-tax)
130,000.00 (after-tax)
Ilkka Seppo Salonen Chairman of the Audit and Risk Committee
Member of the Strategy and Capital Markets Committee 		200,000.00 (pre-tax)
140,000.00 (after-tax)
Lord Daresbury (Peter) Member of the Compensation, Corporate Governance and Nominations Committee
Member of the Strategy and Capital Markets Committee 		185,714.29 (pre-tax)

130,000.00 (after-tax)
TOTAL 1,542,857.14 (pre-tax)
1,080,000.00 (after-tax)
(RUB 98,084,636.75 pre-tax)