{{Short description|Former Russian bank (2009–2016)}} {{Infobox company | name = MDM Bank | logo = MDM Bank logo.png | type = OJSC | foundation = {{Start date |2009}} | defunct = {{End date|2017}} | fate = Merged | successor = URSA Bank then B&N Bank | location = Novosibirsk, Russia | key_people = | industry = Finance and insurance | products = Financial services | revenue = | operating_income = | net_income = | num_employees = 5,000 | num_employees_year = 2017 }} '''MDM Bank''' ({{langx|ru|МДМ Банк}}), is a former Russian commercial bank that operated from 1993 until it was merged in 2017 with B&N Bank.
Former MDM-Bank was one of Russia's largest private banks originally based in Moscow. In 2009 it merged with URSA, was renamed and moved to the city of Novosibirsk.<ref name=BL>{{cite web |url=https://www.bloomberg.com/apps/news?pid=20601085&sid=atC5jgxI4SN4&refer=europe |title=Russia’s MDM, Ursa Merge as Credit Crisis Deepens |publisher=Bloomberg |date=December 3, 2008 |accessdate=2009-06-18 |archiveurl=https://web.archive.org/web/20121025014110/http://www.bloomberg.com/apps/news?pid=20601085&sid=atC5jgxI4SN4&refer=europe |archivedate=October 25, 2012 |url-status=live }}</ref> MDM and URSA estimated that the new MDM Bank would have capital of US$2.5 billion and total assets of US$18.7 billion, although in practice the numbers ended up being somewhat lower.{{cn|date=May 2023}}
== History == [[File:2005-FormerMDM.JPG|thumb|260px|Former original MDM-Bank in Moscow, 1993-2009]] The original MDM-Bank was founded in Moscow in December 1993 and held a General Banking License issued by the Central Bank of Russia (#2361 dated 13 February 2003, which was voided as the bank migrates under URSA Bank license #323).<ref>{{cite web |url=http://www.mdmbank.com/articles/42924/2326/news-material |title=MDM Bank EGM Approves Merger with URSA Bank |publisher=MDM Bank |date=May 8, 2009 |accessdate=2009-06-18 |archiveurl=https://web.archive.org/web/20100102193827/http://mdmbank.com/articles/42924/2326/news-material |archivedate=January 2, 2010 |url-status=dead }}</ref>
Igor Kim, chairman and shareholder of URSA, became the new bank's chief executive officer during the transition period; Oleg Vyugin chaired the board of the bank's holding company and the former MDM CEO Igor Kuzin became chief executive of the holding company.<ref name=BL/>
''URSA Bank'' was founded in 1990 as ''Sibakadembank'' by the Siberian Division of the Russian Academy of Sciences. It was restructured from a privately held bank to a joint-stock bank in 1997. After a series of mergers with local Siberian banks, in 2006 Sibakadembank merged with Yekaterinburg-based Uralvneshtorgbank (established 1991) and assumed the new name, URSA Bank.<ref>{{Cite web |title=МДМ-банк и УРСА-банк объявили о завершении слияния |url=https://www.rbc.ru/economics/07/08/2009/5703d59f9a7947733180a27f |access-date=2022-07-12 |website=РБК |language=ru}}</ref>
In 2016 MDM merged with another Russian lender, B&N Bank. This new entity now ranked in the top 10 of all Russian banks, and the top five for private lenders.<ref>{{Cite web |date=2016-11-18 |title=Бинбанк и МДМ банк завершили объединение |url=https://www.kommersant.ru/doc/3148285 |access-date=2022-07-12 |website=www.kommersant.ru |language=ru}}</ref> In 2017 the newly merged entity required a bailout by the Russian Central Bank.
==References== {{Reflist}}
== External links == *[https://web.archive.org/web/20070828111813/http://www.mdmbank.com/ MDM Bank (in English)] *[https://web.archive.org/web/20090619044929/http://ursabank.ru/en/ URSA Bank (in English)] *[https://web.archive.org/web/20091101172600/http://www.cbonds.info/eng/organisations/organisation.phtml/params/id/53 Financial information]
{{Portal|Banks}} {{Authority control}}
Category:Banks of Russia Category:Companies based in Novosibirsk