As news agency Banki.ru learned, Mechel-Bank was renamed in Monetny Dom on November 17. The bank’s shareholders took a decision to change the lender’s corporate name back in July 2008. “The previous name — Mechel-Bank — was regionally centered and no longer complied with the scope of our business that turned federal. The new name — Monetny Dom — suits our new image” — the bank said in a statement.
The bank’s new charter is under approval at the Central Bank of Russia and this process has not yet completed. The bank attributes delays to difficulties the national banking system is facing. “Under the circumstances, CBR has been taking prompt measures to stabilize the Russian financial system and our “peaceful” issue is being settled slowly but surely” — the bank’s representatives noted.
Meanwhile, all internal procedures relating to the rebranding campaign are carried out as planned. The bank’s executives decided not to wait for the official change of the name and announce the new corporate name without delay.
According to the data from news agency Banki.ru and Interfax-CEA, as of July 1, 2008 Mechel-Bank ranked 195th among Russian banks in terms of net assets (Rub 8.49 bln). The bank is a member of the national deposit insurance system.
