OREANDA-NEWS. February 17, 2009. On the basis of branches of AKB Moscow Pledge Bank (ZAO) in the towns of Schelkovo, Stupino and Zhukovsky in the Moscow Region and the Moscow branch in South Butovo, Bank of Moscow offices have been opened. The new Bank of Moscow offices offer a broad range of modern financial services for individual and corporate clients.

By the end of February 2009, the Bank of Moscow will have opened offices on the basis of branches of Moscow Pledge Bank (MZB) in another 2 Moscow Region towns — Liubertsy and Elektrostal.

The Bank of Moscow began servicing clients of Moscow Pledge Bank on 21 January, 2009. Within the scope of the agreement concluded with the State Corporation Agency for Deposit Insurance (ACB), the Bank of Moscow has assumed responsibility for providing baking services to all individual clients under bank deposit and bank account agreements. At the same time, the servicing conditions, including the interest rates on deposits and their terms, remain unchanged. The Bank of Moscow has also assumed servicing of some of MZB’s mortgage loans.

The servicing of MZB’s clients was transferred to the Bank of Moscow by the State Corporation Agency for Deposit Insurance (АСВ) within the scope of the АСВ’s powers as the provisional administration of this bank and the complex of measures to transfer part of its assets and liabilities to a financially stable bank. The ACB selected the acquiring bank in compliance with the rules envisaged by article 9 of the federal Law "On additional measures to consolidate the banking system during the period up to 31 December, 2011".