From 2004 to 2007, Melnichenko sold shares of MDM Bank to his MDM Group partner Sergei Popov, and focused on the development of the industrial assets in fertilizers and coal. In 2006, Global Finance named it the "Best Russian Bank" in four categories: corporate management, FOREX, the best organizer of Eurobond loans in the Russian market, and the best consultant in the Russian M&A market. Following Melnichenko's decision to step down from MDM Bank in 2007, the International Financial Corporation (IFC) purchased 5% of MDM Bank shares for US$185 million, valuing the bank at US$3.7 billion. Having served its consolidating purpose, MDM Group ceased to exist.