MDM Bank EGM Approves Name Change to MDM Bank (Open Joint Stock Company)
23.10.2007 20:54
2007, MDM Bank’s shareholders voted to change the Bank’s official name to
MDM Bank (Open Joint Stock Company). The Bank’s official name
was previously Joint-Stock Commercial Bank Moscow Business World
(Joint-Stock Company). This decision is subject to registration of
relevant changes to the Bank’s Charter with the Central Bank of Russia.
MDM Bank
MDM Bank was founded in December 1993 and holds a General Banking License
issued by the Central Bank of Russia (#2361 dated 13 February 2003). MDM Bank
is one of the most dynamically developing banks in Russia and is among the top
Russian banks according to assets and equity. Today, MDM Bank is a modern
universal financial institution offering a full range of services to its
clients. MDM has one of the highest credit ratings among privately-owned
Russian banks – Standard & Poor’s (BB, stable), Fitch Ratings (BB, stable)
and Moody’s (Ba1, stable) – and is the only Russian financial organization
that has been given a public corporate governance rating by Standard &
Poor’s (6+). In October 2006, Standard and Poor’s awarded MDM Bank the highest
ranking in its study of ‘Transparency and Disclosure by Russian banks’. The
Bank was also regarded by Euromoney magazine as “one of the leading banks in
Russia and Emerging Europe, applying the most advanced standards of corporate
governance.” MDM Bank has received a number of awards from Global Finance
magazine: 2005 – ‘Best Domestic Bank’ and ‘Editor’s Special Award for
Transparency’. 2006 – ‘Best Forex Bank’, ‘Best Domestic Bank’, ‘Best Domestic
M&A Arranger’, and ‘Best Bank in Corporate Governance’. In October 2006,
Euromoney magazine awarded MDM Bank ‘Leading Bank in Corporate Governance in
Emerging Europe’. 2007 – ‘Corporate Governance Editor’s Award’, and ‘Best
Forex Bank’.
Inquiries:
Investor Relations
+7 495 221 30 75
Public Relations
+7 495 363 27 41
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Press Release
MDM Bank EGM Approves Name Change to MDM Bank (Open Joint Stock Company)
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23.10.2007 21:02