OREANDA-NEWS. April 13, 2009. As reported by the IBA's affiliated structure in Moscow, which has summed up the results of its seven-year performance at the Russian financial market, owing to its effective operation in 2008, the bank has confirmed and strengthened its status of a solid credit institution, having obtained a high recognition among the Russian business circles and banking community, reported the press-centre of IBA.

"IBA-Moscow" is currently reckoned among 200 major Russian banks in terms of such indicators as the "assets", "credit portfolio", and "credits issued to legal entities", and, within the next two years, plans to join the club of "Top-150".

At the year-end of 2008, 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. Last year, the net profit increased by 65 percent and amounted to 104 million rubles.

Obtaining of license from the Central Bank of Russia in 2004 allowing to carry out the transactions with respect to the private accounts in rubles and foreign currency, joining the Deposits Insurance System, enabled "IBA-Moscow" to actively service the private accounts and attract the deposits from individuals. The program of retail business development has been elaborated and implemented as strategic priority.

The services on cash transfers between Russia and Azerbaijan without setting up the bank account are one of the most needed, popular and fast growing services of the Bank. In 2008, the volume of cash transfers increased by 14 percent, amounting up to 113 million US dollars.
The number of transfers was 67 thousand.

The demand for this service and the high rates of its growth is determined by a considerable number of expatriate Azerbaijanis, both residents and non-residents of Russia. In 2008, for the benefit of clients, with respect to the cash transfer service was introduced the package of additional services that can be seen as a prototype of the in-house system of international cash transfers, within the framework of which "IBA-Moscow" will perform a function of a clearing bank.

With a view to diversify its business, the Bank also offers its clients the service enabling to transfer money practically to any spot of the world using the systems of "Contact" and "Migom".
In 2005, "IBA-Moscow" was granted the status of associate member under the international payment system of "Visa International", whereas, at the end of 2007 - the status of principal member under the international payment system of "MasterCard Worldwide".

In 2008, the Bank carried out an active issue of its own cards under the following two systems - "Visa" (the accounts are opened in rubles and US dollars) and "MasterCard" (the accounts are in rubles, US dollars, and euro). By the end of 2008, around 17,000 cards had been issued. In terms of this indicator, "IBA-Moscow" is surely reckoned among 100 major issuers in Russia. For convenience of card service, the number of automatic teller machines (ATM) (currently - 27) and POS-terminals (at the end of 2008, around 130 units) is continually increasing, salary projects and partnership programs are being implemented.

The Bank pays a significant attention to the development and introduction of modern card services. In 2008, the clients were offered the SMS-information service, which enables to receive on-line information about card account transactions, and the program allows ordering the cards directly at the Bank's web site was also developed and introduced. In 2008, "IBA-Moscow" introduced two new cards of "Visa" payment system - "Business" and "Platinum". Last year, the Bank's clients had got an offing of opening the card accounts in euro that created additional opportunities when going abroad.

In 2008, "IBA-Moscow" gave a special attention to the attraction of fixed-term deposits from individuals. The line of deposit related products was updated and the new kinds of high-yielding deposits adequate to the actual condition at the market of fixed-term deposits were introduced. A special offer emerged ensuring the higher rates of return for those clients placing a sizable amount of money. At the end of 2008, the volume of deposit portfolio increased by 103 percent and amounted to 590 million rubles.

The overall volume of deposits from individual clients increased by 88 percent up to 725 million rubles. An agreement was concluded with "Mobile-Express" company on rendering the express payment services to the population.

The positions of "IBA-Moscow" at the interbank market are traditionally strong. In 2008, the volume of issued interbank credits increased by 18 percent and amounted to 5,981 million rubles, while the volume of transactions with respect to the bill of exchange and bonds issued by the Russian banks and companies totaled 191 million rubles. Together with "Raiffeisen Bank", "IBA-Moscow" participated in extension of syndicated loan to "Etalonbank" in the amount of 15 million rubles. In 2008, to finance its core operations "IBA-Moscow" obtained a syndicated loan from the foreign banks in the amount of 55 million dollars for a term of one year, the fact that once again confirmed the steady state of the bank and shows the confidence expressed by the international financial institutions.

In 2008, "IBA-Moscow" implemented the new three-year strategic development plan setting the bank's priority objectives and goals.

In 2008, in order to optimize the customer service, an agreement was signed with "FB-KONSALT" company on development and introduction of "CRM SalesLogix" system and the basic measures with respect to the project were implemented.

At the end of last year, the principle decision was made on the extension of the status of "IBA-Moscow" as the authorized bank of the government of Moscow. The official confirmation was received in February 2009, and the work on development of the new program of cooperation with city authorities for the next two-year period has already started.

In December 2008, "IBA-Moscow" was named the winner of the prestigious annual “National Banking Award” in the nomination for the "Bank with the participation of foreign capital that has made a significant contribution to the economic development of Russia". The presentation of award was organized by the "Association of Russian Banks" and the "Association of Regional Banks of Russia" with the support of the Central Bank of Russia. The award was instituted by the “National Banking Journal”.

The primary objectives of the “National Banking Award” are the following: promote the image of Russian banking system in public; provide the real consumers of banking services with the objective, simple, and clear benchmarks for choosing a bank; giving the banking system an additional openness and transparency; formation of the elite in banking sphere. This award is a kind of "Quality Mark" annually awarded to the banks in the capital and the regions. The winners in nominations are picked out by the jury after reviewing the materials presented by the Award Expert Council.

Together with its parent bank, "IBA-MOSCOW" participated in the organization and holding of the first international conference on the "Financial markets of the CIS countries: development and integration" that took place in Baku in October 2008 and attracted a considerable interest.
In 2008, the new corporate web site of "IBA-Moscow" functioning as the universal place for exchange of information with the clients and the Bank's partners was developed and put into operation.

The strategic and tactical objectives set by the Bank give the reasons to believe that the years to come will be extremely eventful and crucial. The Bank's management and the personnel are confident that "IBA-Moscow" has stood the test of time with honor and will further continue exhibiting the example of an effective and reliable performance.

"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. Today, "IBA-Moscow" is the universal financial institution with a regional network and a wide spectrum of products and services. The Bank plays a prominent role in creation of conditions for strengthening the traditional economic relations between the business structures of Azerbaijan and Russia, crediting the perspective projects, the fact that eventually promotes the increase of trade turnover between the countries.