|Date joined:||20 August, 2021|
|Initiatives:||Principles for Responsible Banking|
Credit Bank of Moscow (MKB) is the leading non-state publicly traded Russian bank designed as a systemically important banking institution (SIFI). MKB operates a well-established diversified universal franchise with a strong footprint in the corporate segment and growing presence in retail banking. The Bank’s client-centric business model provides sustainably high through the cycle profitability with a moderate risk profile. The Bank was ranked as a top-2 non-state bank by total assets in INTERFAX-100 as at 1 January 2021.
MKB is currently rated ‘Ba3’/’BB’/’BB-‘ by Moody’s / Fitch / S&P. In October 2019 MKB became the first Russian bank to get ESG rating, ‘BBB’ from Rating-Agentur Expert RA GmbH. The Bank is publicly traded on Moscow Exchange since June 2015 with a free float of 20%. MKB shares are included on MOEX Russia Index, RTS Index, MSCI EM Small Cap Index and FTSE Global Equity Series Index.
Roman Avdeev is the Bank’s controlling shareholder (via Rossium Holding) since 1994. MKB is fully compliant with best international corporate governance practices and has successful track record in raising capital from reputable institutional investors including EBRD and IFC.
MKB has been for years firmly committed to sustainability and makes every effort to promote the ESG agenda in Russia, in particular by doing business responsibly, by implementing a system to control and manage its own social and environmental impacts and by developing a sustainable finance framework.
Thanks to the flexibility and active integration of ESG principles into its activities, MKB has received the status of a leader among banks in the development of ESG practices in Russia (#1 among banks in RAEX Europe’s ESG ranking of Russian companies, as of July 2021), and first Russian bank to get ESG rating.
MKB regularly analyses, and seeks to continuously improve its sustainability performance, in particular by improving its sustainable development governance framework. The most notable changes in the Bank for the last two years include: the establishment of a special committee of the Supervisory Board with a focus on sustainable development, the approval of a sustainability strategy, improvement of ESG bylaws, as well as the creation of a team of professionals united in the Sustainable Development Division.
For more information, please visit http://mkb.ru