Rustam Minnikhanov takes part in annual meeting of Ak Bars Bank shareholders

On May 26, Tatarstan President Rustam Minnikhanov took part in an annual meeting of Ak Bars Bank shareholders.

Speaking at the meeting, Chairman of Ak Bars Bank Zufar Garaev said that this year the bank plans to get profit after losses in 2015.

“We have set a task to finish 2016 with profit, the main drivers of which should be improving the profitability of transactional operations, the growth of fee income and control of the quality of the loan portfolio. The bank plans to increase the main profit factor, net interest margin, by more than nine billion roubles,” Garaev said.

He noted that now the bank is dealing with updating a long-term strategy to transfer to a flexible, scalable business model. 

Ak Bars Bank shareholders decided not to pay dividends for 2015 because of the absence of net profit.