MDM Bank (; 2009–2017), is a former Russian joint stock commercial bank. Original MDM-Bank was one of Russia's largest private banks originally based in Moscow (1993–2009), then merged renamed and moved to Novosibirsk (2009–2016) 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. History The original MDM Bank was founded in Moscow in December 1993 and holds a General Banking License issued by the Central Bank of Russia (#2361 dated 13 February 2003, which will be voided as the bank migrates under URSA Bank license #323). Igor Kim, chairman and shareholder of URSA, has been the new bank's chief executive officer during the transition period; Oleg Vyugin chairs the board of the bank's holding company and the former MDM CEO Igor Kuzin is chief executive of the holding company. 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. 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. In 2017 the newly merged entity required a bailout by the Russian Central Bank. References External links MDM Bank (in English) URSA Bank (in English) Financial information Banks of Russia Companies based in Novosibirsk