OREANDA-NEWS. November 22, 2010. MDM Bank’s 2009 Annual Report was named the best among Russian and CIS financial institutions at the 12th annual Best Annual Reports competition, organized by Expert RA. The winners were selected by a special contest committee which among others included First Deputy of the State Duma Committee for Credit Institutions and Financial Markets, Pavel Medvedev, President of the Finance Academy under the Government of the Russian Federation and the Audit Chamber of Russia President, Alla Gryaznova, Executive Vice-President of the Association of Russian Banks, Anatoliy Milukov.

Competition participants were judged primarily by the informational content of their annual reports. Other important factors included: inclusion of non-standard information of interest to potential readers, the levels of disclosure for each of the company’s primary business lines, the depth of market analysis by product (service), competitive advantages, logical and rational report structure and presentation, and the absence of any superfluous information that inhibited readability. Compliance with Russian legal requirements and generally accepted international standards was also taken into account.