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The story
At the end of 2020, CBM acted as an organizer of a €5.775 billion loan for Trafigura Group in its deal to acquire a 10% stake in Rosneft's Vostok Oil arctic project.
In March 2021, CBM bought the industrial commercial bank "Koltso Urala" (Ring of the Urals), which was controlled by the Ural Mining and Metallurgical Company. The deal is valued at 5.7 billion rubles (about $770 million). The bank will continue to serve the activities of the UMMC.
According to the Forbes World's Best Banks list, published in April 2021, Moscow Credit Bank ranks second among Russian banks.
In July 2021, S&P upgraded MKB's credit rating from BB− to BB with a stable outlook. "CBM has demonstrated the stability of its business in an unstable market situation, as evidenced by its indicators of loan losses and indicators of asset quality", the agency said in a statement.
In 2021, the bank reported a profit of 29 billion rubles, and in 2022, it was 8.7 billion rubles. No dividends have been paid to shareholders since 2019.
In 2023, several anonymous sources reported that the bank decided to change its strategy and refocus on the corporate market. The strategy is expected to be presented in autumn 2023. The Credit bank of Moscow denied this information. According to the bank's official press statement, it will continue to develop both retail and corporate investment areas.
From Wikipedia’s article on Credit Bank of Moscow, shared under CC BY-SA 4.0.3