MDM-Bank


MDM-Bank was a major Russian commercial bank that operated from 1993 till 2009.
In August 2009, MDM-Bank was liquidated following its merger with URSA Bank, with the combined entity being renamed MDM Bank . The bank was registered in Novosibirsk with regional headquarters in Moscow, Yekaterinburg, and Novosibirsk. It was a participant in Russia's Deposit Insurance System under number 17.

History

The bank was founded in 1993 by Andrey Melnichenko, Mikhail Kuznetsov, and Yevgeny Ishchenko. It received its banking license on 1 June 1993.
In 2000, the bank became part of MDM Industrial Group and MDM Financial Group.
The magazine Global Finance recognized MDM-Bank as the best bank in Russia in 2006 for:
In October 2006, MDM-Bank ranked first in Standard & Poor's transparency rating for Russian banks and received a diploma from Euromoney magazine as one of Russia's leading banks applying advanced corporate governance standards.
In 2007, MDM-Bank maintained some of the highest credit ratings among Russian private banks:
  • Standard & Poor's
  • Fitch Ratings
  • Moody's
It was the only Russian financial institution with a public corporate governance rating from S&P.
In late 2007, the IFC provided MDM-Bank with a $100 million loan for SME lending and $100 million capital investment.

Merger and liquidation

On 3 December 2008, shareholders of MDM-Bank and URSA Bank announced plans to merge, creating one of Russia's leading private universal banks. The merger was completed on 10 August 2009. Prior to the merger, MDM Bank maintained strong credit ratings.
On 7 August 2009, following the merger, MDM Bank was liquidated by the Central Bank of Russia.
The merged entity was named MDM Bank, which itself was liquidated in 2016 after merging with Binbank.

Management

Key executives included:
As of 1 January 2009 :
  • Assets: 308 billion rubles
  • Capital: 36.6 billion rubles
  • Net profit: 4.8 billion rubles
As of 1 January 2008 :