() is a Russian Joint Stock commercial bank
, one of Russia
's largest private banks based in Moscow
. As of August 2009, the bank completed a merger
-based URSA Bank
. The new bank will operate under MDM Bank
brand name as an Open Joint Stock Company, but the merger is actually structured as an acquisition of MDM by URSA. The new corporate headquarters will be based in Novosibirsk. The merger was announced in December 2008;Igor Kim
, chairman and shareholder of URSA, has been the new bank's chief executive officer
during the transition period; Oleg Vyugin
chairs the board of the bank's holding company and the former MDM CEO Igor Kuzin
is chief executive of the holding company.
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, which will be voided as the bank migrates under URSA Bank license #323). It had 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......