Bank of Moscow
|Headquarters||Moscow, Russia, Russia|
Number of locations
|42 branches in Moscow and Moscow region and 43 branches in major cities of Russia|
|Andrei Kostin (Chairman)|
|Services||bank accounts, debit and credit cards, safety deposit boxes, financial intermediation, cash and non-cash money transfers, currency exchange, lending and investment services,|
|AUM||RUB 669 bln|
|Total assets||RUB 958 bln|
|Total equity||121,6 billion rubles. (2009, IFRS )|
Number of employees
|10504 (30 September 2009)|
The Bank of Moscow (Банк Москвы) was a Russian bank that provided banking services to both corporate and retail customers until May 2016. Headquartered in Moscow, the bank had 267 outlets, including branch offices and cash desks. BoM had over 114,000 corporate and 9 million retail customers. As of 1 July 2016, it had 6.3 million banking cards in its portfolio. Its central office was located in the building of the Moscow International Bank in Moscow, on the corner of Kuznetsky Most and Rozhdestvenka streets.
In May 2016, it was merged intoVTB Bank.
- 1995: The bank was established under the name Moscow Municipal Bank – Bank of Moscow.
- 1999: Estonian Credit Bank enters into a cooperation agreement with the Bank of Moscow, and in 2012 the Bank of Moscow becomes its biggest shareholder.
- 2004: The bank was renamed as Bank of Moscow JSCB.
- 2005: BM Bank (Ukraine) established as BoM’s subsidiary.
- 2009 : Vedomosti newspaper published an article alleging that in the summer of 2009, as most real estate development companies suffered from the economic crisis, Inteco, a developer controlled by Yelena Baturina, the wife of then Moscow Mayor Yury Luzhkov, paid back a RUB 27 billion loan ahead of schedule. According to the newspaper, it was able to do so, among other things, by selling a 58ha land plot in the southwest of Moscow for RUB 13 billion, thus valuing 1 ha of land at RUB 220 million. The land was reportedly acquired by an entity affiliated with the Bank of Moscow. The newspaper even claimed that the purchase was paid for using a BoM loan.
- 2010: Moscow Mayor Yury Luzhkov signs a directive to use municipal funds to support the bank. According to the document, RUB 7.5 billion were allocated from the city budget in 2010 to buy up the bank’s additional share issue.
- 2011: in February–September VTB obtains a controlling 51% stake in BoM.
- 2016: VTB brings its stake in BoM to 100 percent.
As of 31 December 2014, the assets of the Bank of Moscow amounted to RUB 2,129.1 billion, liabilities were equal to RUB 1,941.5 billion, and equity at RUB 187.6 billion.
International rating agencies and rankings
- Moody’s Investors Service: Long-term deposit rating;
- Standard & Poors: Long-term deposit rating in local & foreign currencies – BB-, negative outlook;
- Brand Finance valued the BoM brand in February 2011 at USD 842 million and included it in the top 200 of the leading financial brands in the world;
- BoM advanced by 86 positions, from 190th to 104th place, in The Banker ranking of Top 500 Banking Brands for 2012.
Russian rating agencies and rankings
- RETAIL FINANCE AWARDS 2015: best in the Best Creative Solution of the year category;
- Expert RA 2015: top 3 Russian bank in mortgage loans; highest growth in small-business lending portfolio;
- Usabilitylab 2015 ranking: 4th place in a ranking of user-friendly online banks; 2nd in the ranking of mobile banking applications by user friendliness.
- In 1995-2005, BoM’s logo represented a red M with “The Bank of Moscow” written below it.
- In 2005-2016, BoM’s logo evolved into a bold M reminiscent of the spires on the Moscow Kremlin wall with “The Bank of Moscow” written below it.
- "Reorganization :: About Bank :: VTB Bank of Moscow". www.bm.ru. Retrieved 2016-05-12.