MDM Bank Opens Branch in Lipetsk

Moscow, July 10, 2007 – MDM Bank has opened a branch in the city of Lipetsk. The new outlet will supply a wide range of high-quality banking services, complemented by efficient customer service and custom-tailored for all categories of clients. 

MDM Bank offers individuals a broad selection of retail banking services, including bank deposits in rubles and foreign currency, credit cards, car loans and mortgages.

The bank also provides cash & settlement services, lending and investment support for business, corporate finance and financial consulting, and securities and asset management.

The new branch was opened as part of MDM Bank’s regional development strategy. Lipetsk is the 58th city in Russia to host an MDM Bank branch and representative office. Mr. Valery Borodin has been appointed as the branch General Manager.

Michel Perhirin, MDM Bank’s CEO and Management Board chairman, said: “We are continuously expanding our regional presence in order to increase the share of regional revenues in MDM Bank’s overall revenues to 50% by 2010. We are entering the local market in Lipetsk with excellent products for both corporate and private clients. The branch plans to secure a leading position in the regional market by meeting client demand for all types of banking products.”

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