OREANDA-NEWS. August 31, 2009. Subject to the conditions of an agreement, the "INTERNATIONAL BANK OF AZERBAIJAN - MOSCOW" has discharged a syndicated loan for the amount of 55,000,000 US dollars, borrowed in August 2008 against the guarantees of "International Bank of Azerbaijan, plc", at the rate of LIBOR + 1.25 % for the term of 364 days. The borrowed funds were directed to the trade financing and the increase in Bank's credit portfolio, reported the press-centre of IBA.

The leading organizers of this syndicated loan were "Bayerische Landesbank", "Credit Suisse", and "BANIF - Banco Internacional do Funchal S.A.". The other parties to the deal were also such banks as "Landesbank Baden-Wurttemberg", the Branch of "Mega International Commercial Bank Co. Ltd." in Paris, "AKA Ausfuhrkredit-Gesellschaft m.b.H.", "Banque de Commerce et de Placements S.A.", the Branch of "Caixa Geral de Depositos S.A." in France, and the Offshore Banking Branch of "Land Bank of Taiwan".

An ongoing global financial crisis obviously triggers the collapse of stock and money markets and the failure of tens of financial and credit institutions in different countries. Considering the fact that the current crisis is accompanied by the various complexities, including the existing problems of liquidity and funding in the banking sector of Russian Federation, the timely repayment of its debt made by the bank of "IBA-MOSCOW", is another one confirmation of an effective performance of the first Azerbaijani bank abroad, which have already obtained the status of a solid credit institution, and a high recognition among the Russian business circles and banking community.

During 7 years of its operation in the Russian market, "IBA-MOSCOW" repeatedly obtained the large syndicated and club credits from foreign and Russian banks, and fully carried out all its obligations in a timely manner, the fact that testifies to its status of a reliable business partner.

Since the time of its establishment in 2002, "IBA-Moscow" has successfully developed and by nowadays attained the serious positions at the Russian market, and in December last year, was named the winner of the prestigious annual "National Banking Award" of the Russian Federation. “IBA-Moscow” is among 200 major Russian banks in terms of such indicators as the "assets", "credit portfolio", and "credits issued to legal entities".

The Bank actively extends the credit financing for projects of corporate clients, finances the day-to-day operation of successful and stably developing companies of various sectors of economy, and renders the resource support for the export-import operations between the Russian Federation and Azerbaijan.

At present, "IBA-Moscow" has gained a foothold in three most economically developed regions of Russia: Moscow, St.-Petersburg, and Yekaterinburg. The Bank's network of subsidiaries currently numbers 12 branch offices, and in the years to come, it is planned to continue the process of geographical expansion. The issues connected with the opening of branch office in the city of Nizhniy Novgorod are currently being studied. Moreover, within the framework of its strategy aimed at infrastructure development, the Bank does not rule out the possibility for purchasing (acquisition) of any Moscow or regional financial institution.