OREANDA-NEWS. April 13, 2009. Within the framework of its strategy aimed at infrastructure development, "IBA-Moscow" considers the issue of possible acquisition of any Moscow or regional financial institution, the Bank's statement reads, reported the press-centre of IBA.

This issue is currently becoming actual amidst the loss of value and bankruptcy of many banks affected by the global financial crisis.

As of today, "IBA-Moscow" has gained a foothold in three most economically developed regions of Russia, and besides Moscow and St.-Petersburg, the Bank's affiliate has been opened in Yekaterinburg, where live more than 70 percent of all Russian citizens of Azerbaijani descent and where more than 75 percent of the business connected with Azerbaijan is concentrated.
In 2008, the Bank's affiliate in St.-Petersburg demonstrated an impressive dynamics of development: interest income and commission earnings increased by 34 and 152 percent, respectively, while the pre-tax profit totaled 38.08 million rubles.

In the context of retail services development, "IBA-Moscow" tries to bring its services nearer to the potential clients by increasing its sales network. In Moscow already operate six additional offices focused on rendering end-to-end servicing to the legal entities and individuals, as well as two operational cash offices for individuals.

In 2008, the new operational cash office "Golovinskaya" was opened. The Bank's network currently numbers 12 branch offices. In the years to come, it is planned to continue the process of network expansion.

At the end of last year, the Bank's capital increased by 16 percent and amounted to 1,016 million rubles, while the volume of assets reached 9,858 million rubles (up by 39 percent). "IBA-Moscow" actively provides the credit financing for projects of corporate clients, extends financing to the real sector of economy in Russian, as well as the export-import operations between the Russian Federation and Azerbaijan. In 2008, the Bank's credit portfolio reached 7,662 million rubles, up by 63 percent as compared to its level in 2007, while the net profit increased by 65 percent and amounted to 104 million rubles.

"IBA - Moscow" is an affiliated structure of the "International Bank of Azerbaijan", the first and the only bank with a 100 percent Azerbaijani capital that operates on the territory of the Russian Federation.