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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’.


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Phone numbers: +7 (495) 777-95-00, 795-95-00, 795-25-00, [email protected]