Credit Bank of Moscow (MCB) and the UMMC Group have completed the sale and purchase of shares in LLC CB “Ring of the Urals”. This step meets the strategic priorities of the parties to develop the previously announced cooperation in terms of improving the quality of comprehensive financial services for the enterprises of the UMMC group and their employees, including in terms of corporate and consumer lending, expanding the range of banking services, as well as further digitalization and improving the quality of client services ... The terms and conditions under the current customer agreements remain unchanged, the integration of information systems of financial institutions will take place in stages and will take into account the positive experience and developments of both PJSC "MKB" and LLC CB "Ring of Ural". All branches will continue to work according to the standards of the "Ring of the Urals", providing a full range of services for individuals and legal entities. For UMMC, the bank LLC CB “Koltso Urala” will remain the key bank for receiving banking services by the group's enterprises in terms of settlement and cash services, acquiring services and others.
“In accordance with the agreements reached, the Ural Mining and Metallurgical Company does not will only continue, but will also increase cooperation with the "Ring of the Urals" and MKB, one of the largest private federal banks in Russia, which has established itself as a reliable partner and has high expertise in banking and financial services. I am sure that the synergy of the unique experience of the Ring of the Urals in the Ural region and the professional competence of MKB will only increase the quality of services for us as bank clients and make our cooperation even more constructive. In addition, UMMC will receive additional financial and organizational resources for the development of its core business: mining and metallurgy, ”stressed UMMC General Director Andrei Kozitsyn.
“ Cooperation with the UMMC group is of strategic long-term nature. Specialists of KB "Ring of the Urals" have unique expertise, which will form the basis of transformations in the future. Thanks to the established client relationships, we have the opportunity to develop client loyalty and expand the range of services, "said Mikhail Polunin, First Deputy Chairman of the Board of MKB.
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The Ring of the Urals is ranked 103 -th place in the rating of the largest banks in Russia in terms of assets (Interfax 100, 2020). In June, the Expert RA rating agency raised the financial institution's credit rating to ruBBB- with a stable outlook. The bank has more than 40 offices in the regions of the Ural, Volga and Siberian federal districts. In total, Koltso Urala serves more than 16 thousand corporate and 280 thousand private clients.
MKB ranks 6th in the rating of Russian banks in terms of assets. The bank is included in the list of systemically important credit institutions approved by the Bank of Russia. The Bank currently has credit ratings: “A” from ACRA, “A” from “Expert RA”, “Ba3” from Moody 's; "BB" from Fitch; "BB-" from S&P, "A + .ru" from NKR. In October 2019, MKB became the first Russian bank to receive an ESG rating: BBB from Ratig-Agetur Expert RA GmbH.
