OREANDA-NEWS. May 12, 2009. At an extraordinary general shareholders meeting (EGM) the shareholders of URSA Bank voted to approve the reorganization of URSA Bank through a merger by way of accession of MDM Bank (Open Joint Stock Company) and Bankovsky Holding MDM (Closed Joint Stock Company) into URSA Bank (Open Joint Stock Company). The merger was supported by 99.64% of URSA Bank’s shareholders.

MDM Bank's common shares and preferred shares, as well as common shares of MDM Bank Holding will be converted into newly issued common and Class 8 preferred shares of URSA Bank.

The next key step to complete the merger is state registration of the transaction by the Central Bank of Russia.

The merged bank will maintain the name MDM Bank and will be registered in Novosibirsk on the basis of URSA Bank’s current legal entity and the general banking license #323.