OREANDA-NEWS. MDM Bank has opened an operations office in Krasnodar, becoming the 62nd Russian city where MDM Bank is represented, the bank press-service announced.The new office offers individual clients a broad range of retail banking services: ruble and foreign currency accounts, credit cards, auto lending, and mortgage loans. Cash and settlement services, lending and investment support for businesses, corporate financing and financial consulting, as well as security and asset management are also to be provided.

The new office opened pursuant to MDM Bank's regional development strategy. Mr. Denis Falko was appointed general manager of the office. Chairman of the Management Board of MDM Bank Mr. Mikhail Perhirin stated: "We believe in high economic potential of the Krasnodar region and intend to actively develop MDM Bank's business there. We are confident that via our full product range and adaptive approach, MDM Bank's products and services will receive strong demand among the businesses and people of the Krasnodar region, and through the work experience and qualifications of our personnel we will help support the welfare of the regional economy and secure further growth of its people's standard of living."

MDM has one of the highest credit ratings among privately-owned Russian banks: Standard & Poor's' BB, stable; Fitch Ratings' BB-, positive 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 a first place in its study of Transparency and Disclosure by Russian banks.

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 a title of Leading Bank in Corporate Governance in Emerging Europe. 2007 - Corporate Governance Editor's Award and Best Forex Bank title. 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 was founded in December 1993 and holds the General Banking License issued by the Central Bank of Russia (#2361 dated February 13, 2003). MDM Bank is one of the most dynamically developing banks in Russia and is among the top Russian banks in regard to net worth and asset ownership.