GE Money Bank

2004: New owners rename Deltabank into GE Money Bank

GE Money Bank, Ltd (The General license of the Bank of Russia No. 3316 of 8/4/2010) entered the Russian consumer credit market in 2004 by purchase of Deltabank Ltd and was the Russian division of one of chief operators in international market of financial services of GE Capital.

The main products offered by Bank were the revolving credit cards VISA, cash loans. The bank serviced consumers through own extensive network of departments, KKO and sales offices in Moscow, St. Petersburg, Nizhny Novgorod, Kazan, Yekaterinburg, Krasnodar, Novosibirsk, Samara, Rostov-on-Don, Chelyabinsk.

In Bank the program of "Responsible crediting" which purpose — quality improvement of providing credit products and their service was implemented. The bank is included in the first list of 50 credit institutions applying the recommendations of FAS Russia about standards of disclosure of information when providing consumer loans.

2014: Sovcombank acquires GE Money Bank

The Sovcombank at the beginning of 2014 closed the transaction on acquisition of GE Money Bank.

In May, 2014 the GE Money Bank replaced the name with Modern Commercial Bank. According to media, changes in the name of credit institution happened on April 23, 2014. The DRB HOLDINGS B private limited liability company appears the major shareholder of Modern Commercial Bank. V., based in the Netherlands. It possesses 46.5% of stocks of the updated GE Money Bank.

Awards

In 2007 the Bank was entitled The Best Bank of Russia — 2007 on consumer crediting for the program of "Responsible crediting" within the award "Financial Russia". In 2008 the Bank was conferred the award "Financial Elite of Russia" in the Dynamics of Growth nomination and became the winner of the tender "BRAND GODA/EFFIE 2007", having taken the 2nd place in the nomination "Financial institutions. Insurance, products and services".