OREANDA-NEWS. September 3, 2007.  MDM Bank published its consolidated IFRS financial statements for the six months ending June 30, 2007, which were reviewed by KPMG. For the six-month period, MDM Bank reported net attributable profit after taxation in amount of RUR 2 682 million (1H 2006: RUR 1 269 million), a 111% increase over 1H2006.

Other highlights included:
Total assets rose by 69% over 1H 2006 and by 23% over YE2006 to RUR 298 497 million (YE 2006: RUR 243 122 million);
Net revenue increased by 71% over 1H 2006 to RUR 8 679 million, compared to RUR 5 079 million in 1H 2006;
Annualized return on average equity increased to 18.7% (for the whole of 2006: 13.0%);
Cost/Income ratio decreased to 45.7% (for the whole of 2006: 51.5%);
Total non-performing loans ratio amounted to 1.5 % (0.8%, 1.6% and 5.4% for corporate, SME and retail book respectively);
Provision coverage of non-performing loans totaled 185.7% (294.7%, 236.1% and 119.3% for corporate, SME and retail book respectively).

Full text of the financial statements for 1H 2007 can be found on MDM Bank’s web site at:
http://www.mdmbank.com/about/financial

Please also note that MDM Bank will hold its interim financial results conference call on Friday, 31 August 2007, at 5pm Moscow time (2pm London Time, 9am New York time).

MDM Bank’s management will discuss the Bank’s financial results and performance for the six-month period ended June 30, 2007, as well as the assessment of the impact of global market volatility on the Russian banking sector.

For registration and instructions, please go to the following link:
http://wcc.webeventservices.com/view/wl/r.htm?e=93278&s=1&k=541FC700FEE04A3E8ECE9C3A7914D289&cb=genesys

or use the following link to view the presentation:
http://www.mdmbank.com/about/calls