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“Corporate Governance Editors Award for 2007” from Global Finance Magazine

15.03.2007 12:22

MDM Bank has been awarded Global Finance magazine’s Corporate Governance Editors Award for 2007. The editors of this respected international edition selected the best banks in Russia in various categories: market share, profitability, evidence of long-term strategy, management quality and commitment to improvement in corporate governance.

“Russian banks had a remarkable year in 2006,” says Global Finance publisher and president Joseph D. Giarraputo. "And there's every evidence that may continue in 2007. While commodity prices' strength clearly played a large part in the robustness of the Russian economy, it was the unmistakable signs of movement towards real corporate restructuring that was so heartening, particularly in relation to a growing commitment to good corporate governance.”

Michel Perhirin, CEO and Chairman of MDM Bank’s management board, comments: “MDM Bank is a recognized leader among Russian credit institutions in applying advanced standards of corporate governance. This practice provides MDM Bank with solid competitive advantages and guarantees the bank reliable and predictable operations for the sake of our clients and investors.”

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15.03.2007 12:36

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