50% of Rosbank goes to a charitable foundation

Vladimir Potanin’s Interros has begun the process of transferring up to 50% of Rosbank’s shares to the Potanin Charitable Foundation endowment. According to the billionaire, which is given in the company’s telegram channel, the fund’s target capital will reach the planned amount of 100 billion rubles, “which will ensure the financial stability and long-term nature of its charitable programs.” The company did not provide additional comments. Potanin himself will not be a member of the governing bodies of the endowment and Rosbank – both organizations will be managed by independent directors. “Entrepreneurs should not just donate funds to charity, but make the public good a part of their business models,” Potanin said in a statement.

Even up to 10% of Rosbank’s shares owned by Interros will be directed to a motivation program for Rosbank employees, the businessman specified. According to him, the program will be implemented in digital form: employees will receive digital financial assets (DFA) for the shares of the bank, which will make them beneficiaries of its business. In his statement, Potanin called it “people’s capitalism”: the company’s employees are turning into its beneficiaries.