Tengri Bank JSC informs about changes in membership of the Board of Directors
On May 15, 2020, extraordinary general shareholders meeting of Tengri Bank JSC (hereinafter referred to as the Bank) was held in Almaty.
New composition of the Board of Directors of the Bank was elected by the results of the meeting, the members of which are:
- Pawan Singh, who is the Chairman of the Management Board of the Bank,
- Chand Debadatta,
- Srivastava Arun – Independent Director,
- Yevgeniy Seypulnik – Independent Director,
- Ulan Baizhanov.
The powers of Kuanyshev Timur, Shaikenov Yerzhan, Nugymanov Baurzhan, Subhash Kalia as members of the Board of Directors are terminated.
Chairman of the Management Board Pawan Singh thanked the members of previous composition of the Board of Directors for executed work:
“On behalf of shareholders of the Bank and myself, I want to express deep gratitude to Kuanyshev Timur, Shaikenov Yerzhan, Nugymanov Baurzhan, Subhash Kalia for invaluable contribution, that they contributed in management of Tengri Bank and wish them success”, he said.
Commenting plans for future, Mr. Pawan Singh stated:
“Newly elected composition of the Board of Directors will strengthen work on improving corporate management, taking into account the international experience of its new members. The Board of Directors will focus on the effective recovery of the Bank's activities, increasing its stability and further work to achieve strategic goals, which are concluded in creation of available and qualitative banking service”.
Let us recall, that on April 24, 2020, the decision on provision of liquidity and support the Bank for its operating activity was taken by shareholder of the Bank - Punjab National Bank. Punjab National Bank intends to further strengthen its position in the market of Kazakhstan.
The decision about capitalization by Indian party will be taken by the results of provided remediation plan on Bank’s activity by the consulting agency from "Big Four".
Press-service Tengri Bank JSC