OREANDA-NEWS. November 28, 2011. MDM Bank announced that, based on an agreement reached by shareholders, Igor Kim will exit the equity capital of the bank.

Oleg Viyugin, the Chairman of the Board of Directors, stated that additionally, following negotiations, an agreement was reached for the sale to Igor Kim of a 100% stake in LTB, a former member of MDM Group. The MDM Bank Board of Directors and the bank’s principal shareholders have supported the transaction.

Sergey Timofeev, the Chairman of the Management Board, stated that the bank will continue developing as a universal credit institution with a wide-ranging branch network throughout Russia.