OREANDA-NEWS. November 11, 2008. International Bank of Azerbaijan – Moscow LLC (IBA-Moscow), a subsidiary of the International Bank of Azerbaijan in Russia, keeps on strengthening its position at Russian market, reported the press-centre of International Bank of Azerbaijan.

The Bank informed according to ratings by ‘Profile’ journal as of September 1, 2008 IBA-Moscow has taken the 193rd position among Russian banks as per its net assets (RUB 8,015.5 million).

Let’s mention in October IBA-Moscow asserts reached RUB 10 billion, capital – RUB 1 billion and credit portfolio – RUB 6 billion. It has 12 offices in Moscow, St.Petersburg and Yekaterinburg.

“On average IBA-Moscow grows by 70-80% on main indicators. In 2008 the growth can make 50-60% because of the global crisis and in 2009 – around 20-30%,” Fuad Abdullayev, Chairman of IBA-Moscow, said.

IBA-Moscow has been operating since 2002.