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MDM Bank Reports Solid Performance in 3Q 2007

23.11.2007 15:14

Moscow, 23 November 2007 - MDM Bank published its consolidated IFRS financial statements for the nine months period ended September 30, 2007, which were reviewed by KPMG. For the nine-month period, MDM Bank reported net attributable profit after taxation in amount of RUR 3,855 million (9 months of 2006: RUR 2,416 million), a 56% increase over the same period last year.

Other highlights included:

• Total assets rose by 28% over YE2006 to RUR 312,096 million (YE 2006: RUR 243,122 million);
• Net revenue increased by 48% to RUR 12,996 million from RUR 8,771 million reported for 9 months of 2006 ;
• Annualized return on average equity increased to 17.5% (for the whole of 2006: 13.0%);
• Cost/Income ratio decreased to 46.8% (for the whole of 2006: 51.5%).

Full text of the financial statements for 3Q 2007 can be found on MDM Bank’s web site.

Please also note that MDM Bank will hold its interim financial results conference call on Monday, 26 November 2007, at 5pm Moscow time (2pm London Time, 9am New York time).

MDM management will discuss the Bank’s financial results and performance for the nine - month period ended 30 September 2007 as well as give an introductory overview of MDM Bank’s updated strategy for 2008-2012.

To register for the webcast and the audio event, please go to the following link

 


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 +7 495 221 30 75

Public Relations  +7 495 363 27 41


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23.11.2007 15:28

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