OREANDA-NEWS. November 12, 2010. The MDM Bank Board of Directors decided on 14 October 2010 to appoint Alexey Sannikov, the head of the Siberian Territorial Bank, to the MDM Bank Management Board, beginning from 15 October 2010. Alexey Sannikov’s professional record can be obtained from the Management Board section at the MDM Bank’s web-site (http://mdmbank.com/management).

The MDM Bank Board of Directors has also adopted a decision to hold an extraordinary general meeting of the Bank’s shareholders in the form of voting in absentia on 29 November 2010, and determined the Shareholder Record Date as 14 October 2010.

Amendments to the MDM Bank Articles of Association and approval of related-party transactions were declared as items on the EGM agenda.

The planned amendments to the Articles of Association are of technical character and follow new introductions into the Russian regulatory environment.

MDM Bank’s policy is to conduct operations with related parties at arms length. Respective transactions are typically low:  their amount totaled 2.9% of MDM Bank’s liabilities and 0.3% of its assets under IFRS as of 30 June 2010.