MKB has closed acquisition of AMC MKB Investments
Credit Bank of Moscow (MKB) has closed the acquisition of an asset management company which has joined the MKB Investments platform under the name of AMC MKB Investments.
This decision was prompted by the bank's investment business development strategy. The company manages nine differently focused investment funds, many of which have more than a 15-year history, and services over 42,000 customers, whose aggregate assets under management exceed 18 bln roubles.
"With the acquisition of an asset management company, the MKB Investments platform now encompasses all kinds of investment products and services: brokerage and investment consulting, asset management, depository services, and internally designed and managed investment funds. This allows the bank to proceed with the creation of a large-scale investment business ecosystem," underlined Oleg Borunov, Deputy Chairman of the Management Board.