Sustainable Development at MKB
CREDIT BANK OF MOSCOW is one of the largest private banks in Russia. MKB is included in the Bank of Russia’s list of systemically important financial institutions and dominates in the market by offering a full package of financial services. The Bank’s regional network includes more than 130 offices in 19 regions of Russia.
With the European Bank for Reconstruction and Development (EBRD) participating in the equity of MKB, it can be a leader when implementing the best corporate governance practices and guarantee its compliance with a number of international and European standards in social and environmental issues.
A high professional level of employees and managers, an effective system of risk management and assessment, and a diversified base of investors are the Bank’s unconditional advantages along with the results achieved by the Bank. When the market needs adequate response measures to different external factors, MKB strives to find the most flexible, individual, and high-technology approach. MKB’s business model enables timely responding to the increasing number of challenges and a variable international situation.
Business digitalization is an important development thrust of MKB. With its internal systems and processes automated and advanced technologies used, MKB can both increase its performance efficiency, user-friendliness, and liability and have a direct impact on the social and environmental aspects of its business (energy efficiency, reduction of paper document flow, etc.).
The assignment of the ESG rating in 2019 became an important event that proved the appreciation of MKB’s activities. MKB became the first Russian bank that was assigned the ESG rating. Rating-Agentur Expert RA GmbH assigned the BBB[esg] rating to MKB.
MKB received the following scores of the ESG rating components:
This rating proves a high expert appreciation of our efforts in the integration of ESG principles into the Bank’s business strategy.
MKB appreciates greatly the confidence of its customers, counterparties, shareholders, investors, and society. A great responsibility rests with us, and our team has always proven its ability to solve any issue in an effective and prompt manner and to respond to contemporary challenges. We are surely happy that MKB’s sustainable development activities were highly appreciated by the international rating agency Expert RA GmbH in 2019. Responsible business conduct, mitigating the adverse environmental impact and increasing its own contribution to the global sustainability agenda are certainly among the key priorities for MKB along with the achievement of sustainable financial results”.Vladimir Chubar Chairman of the Management Board of MKB.