‘Our geographical expansion was the main reason for launching a re-branding campaign. The name of Mechel Bank is directly related to Chelyabinsk, whereas the business has already moved outside the South Urals and Chelyabinsk Region. This is why we will now be called Bank Monetniy Dom,’ Mechel Bank’s Chair Elena Nesterova said to an UrBC reporter.

‘The bank now runs fifty-two outlets in Chelyabinsk, Sverdlovsk, Tyumen, Orenburg, and Kurgan Regions as well as in Bashkortostan and Moscow – and this is only the beginning. We intend to introduce many more offices in the Greater Urals and to become a ‘home bank’ in every region,’ she added.

‘We’ve already placed the application for a name change in the Bank’s Charter with the Bank of Russia. In the meanwhile, a team of workers is now preparing a re-branding campaign. We already know what the new brand should look like, so our new development strategy will be based on a very clear goal: we want to make it to the Urals’ Top 5 in five years,’ Elena Nesterova explained.