MDM Bank Issues First MDM Energy Loan
17.12.2007 17:18
Today MDM Bank announced it had issued the first loan under its MDM Energy program. The borrower, Yekaterinburg-based Ecological Resource, received a long-term loan amounting to RUB 4.7 mln for the purchase of a more energy-efficient production line. MDM Energy is a joint program by MDM Bank and IFC (International Finance Corporation) launched in November 2007 to encourage investment in energy conservation.
MDM Energy offers SMEs both long-term, targeted financing as well as independent consultations by technical experts working with MDM Bank. The consultants help estimate the potential for, and impact of, energy conservation at a given business, recommend technical solutions (if required) and conduct energy audits.
Andrey Kuznetsov, Head of Small Business Lending at MDM Bank, noted: “In November IFC conducted training seminars for 50 MDM Bank professionals from each of the cities where the Bank works. The training participants now assist SME owners to increase their companies efficiency by reducing energy consumption.”
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). It 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 2006 and 2007, Standard & Poor’s awarded MDM Bank the highest ranking in its study of ‘Transparency and Disclosure by Russian banks’.
The Bank in October 2006 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 Public Relations
+7 495 221 30 75 +7 495 363 27 41
17.12.2007 17:25
