Credit Bank of Moscow

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Credit Bank of Moscow
TypePublic company
MCX: CBOM
IndustryBanking
Founded1992
Headquarters
Moscow
,
Russia
Revenue$699 million[1] (2019)
$561 million[1] (2019)
$185 million[1] (2019)
Total assets$37.4 billion[2] (2019)
Total equity$3.25 billion[1] (2019)

Credit Bank of Moscow (Russian: Московский кредитный банк) is a Russian bank founded in 1992 and operating in Moscow and Moscow Oblast.

In 2008-2015 the Moscow Credit Bank raised from 66 to 12 place by assets in Russian bank rating. Its funds increased 20 times and achieved 115 billions of rubles. In 2016 it got into top-10 leading Russian banks.

As of September 2017 Credit Bank of Moscow is ranked 9th among Russian banks by assets.[3] Now the Moscow Credit Bank is the biggest private regional bank in Russia. It`s in the top of banks of major systemic importance.[4]

Credit Bank of Moscow is owned by Roman Avdeev,[5] the head of Ingrad real estate development company and Rossium concern. Before 2012 Roman Avdeev was the only beneficiary of the Moscow Credit Bank. He bought the bank in 1994. Now he controls 55,73% of stocks.

Till 2008 Roman Avdeev was the head of the International finance attraction department and a President of the Moscow Credit Bank. In the end of 2008 Roman Avdeev has stepped down, but he is still a member of the Supervisory Council.

At the end of 2020, CBM acted as an organizer of a €5.775 billion loan for Trafigura Group in its deal to acquire a 10% stake in Rosneft's arctic project.[6]

In March 2021, CBM bought the industrial commercial bank "Koltso Urala" (Ring of the Urals), which was controlled by the Ural Mining and Metallurgical Company. The deal is valued at 5.7 billion rubles (about $770 million). The Bank will continue to serve the activities of the UMMC.[7]

In the Forbes World Best Banks list, published in April 2021, Moscow Credit Bank ranks second among Russian banks.[8]

In July 2021, S&P upgraded MKB's credit rating from BB- to BB with a stable outlook. “CBM has demonstrated the stability of its business in an unstable market situation, as evidenced by its indicators of loan losses and indicators of asset quality,” the agency said in a statement.[9]

References[]

  1. ^ a b c d "Credit Bank of Moscow Consolidated Financial Statements for the year ended 31 December 2019". Credit Bank of Moscow. 18 March 2020. p. 94. Retrieved 18 March 2020.
  2. ^ "Credit Bank of Moscow Consolidated Financial Statements for the year ended 31 December 2019". Credit Bank of Moscow. 18 March 2020. p. 94. Retrieved 18 March 2020.
  3. ^ "Financial Statements & Ratings". 2018.
  4. ^ "Credit Bank of Moscow joins Russian systemically important lenders". Reuters. 2017. Retrieved 14 October 2017.
  5. ^ "Roman Avdeev". Forbes.
  6. ^ "Trafigura Got $7 Billion Russian Loan for Arctic Oil Deal". Bloomberg. 2021-01-05.
  7. ^ "Аналитик назвал сумму покупки москвичами банка УГМК" (in Russian). Ura.ru. 2021-03-12.
  8. ^ "World Best Banks". Forbes. 2021-04-13.
  9. ^ "S&P повысило рейтинг Московского Кредитного Банка до «ВВ»" (in Russian). banki.ru. 2021-07-21.

External links[]

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