A metal oxide bilayer second electrode for a MIM DRAM capacitor is formed wherein the layer of the electrode that is in contact with the dielectric layer (i.e. bottom layer) has a desired composition and crystal structure. An example is crystalline MoO2 if the dielectric layer is TiO2 in the rutile phase. The other component of the bilayer (i.e. top layer) is a sub-oxide of the same material as the bottom layer. The top layer serves to protect the bottom layer from oxidation during subsequent PMA or other DRAM fabrication steps by reacting with any oxygen species before they can reach the bottom layer of the bilayer second electrode.