OREANDA-NEWS. April 01, 2009. This year the International Bank of Azerbaijan – Moscow (IBA-Moscow) marks seven years of its work at the Russian financial market, reported the press-centre of International Bank of Azerbaijan.

The Bank’s press service reports that, as well as in previous years, in 2008 by effective work IBA-Moscow confirmed and strengthened status of grave credit institution that acquired high recognition in Russian business circles and bank community.

“Striving to consolidate its positions at the Russian banking market for the past year IBA-Moscow increased its main financial indicators and expanded customer base. At present IBA-Moscow is in Top 200 of biggest Russian banks on such indicators as “assets”, “credit portfolio”, “loans for legal entities” and plans to get in Top 150 in the next two years,” it was informed.

By the end of 2008 Bank’s charter capital grew by 17% and reached 1.012 bn rubles, assets totaled 9.858 bn rubles (rise: 39%). IBA-Moscow gives actively loans for projects of corporate customers, finances Russian real sector of economy, and export and import operations between the Russian Federation and Azerbaijan.

Last year Bank’s credit portfolio reached 7.155 bn that is by 57% more against the 2007 index. Its pre-taxation profit rose by 69% up to 164 million rubles in 2008.

For the past year IBA-Moscow focused much on raising of urgent resources from individuals.
“By late 2008 Bank’s deposit portfolio increased 103% and totaled 590 million rubles. Overall volume of finances of customers (individuals) grew by 88% up to 726 million rubles. For service of express-payments of the population IBA-Moscow signed an agreement with company Mobil-Express,” it was reported.

Strategic and tactic challenges set before the Bank give ground to consider that the next few years will be quite rich and responsible.

“The IBA-Moscow’s management and staff are sure that the Bank could stand with honor test of time and is going to show further an example of efficient and reliable work,” it was informed.
IBA-Moscow, a subsidiary of the International Bank of Azerbaijan, is the first and only bank with 100% Azerbaijani capital operating in Russia.

Today IBA-Moscow is a universal financial institution with regional network and wide range of products and services. The Bank plays an important role in creation of conditions for strengthening traditional economic ties between business organizations of Azerbaijan and Russia, crediting of prospective projects that eventually promotes to increase of trade turnover between the two countries.