OREANDA-NEWS. May 20, 2011. The Bank of Moscow has been developing cooperation with the Foundation for Promotion of Moscow's Small Business Lending since 2006. The Bank of Moscow has taken a leading position with regard to the number of loan agreements partial support of which is provided by the Foundation. Over the entire term of cooperation - from 2006 till present day – the Bank of Moscow has extended approximately 900 loans to small and medium-sized business enterprises, to a total amount of over RUR 3.3 bln.

With its active participation in the joint lending programme for lending to small and medium-sized enterprises against a pledge by the Foundation, the Bank currently has over 220 loan agreements in its portfolio to a total amount over RUR 730 mln.

"The Bank of Moscow has recently declared that it practises a differentiated approach to estimation of the interest rate for loans extended to small and medium-sized business enterprises," Irina Nikitenko, Vice-President of the Bank of Moscow, commented. "The interest rates now depend on the credit quality of the borrower amounting to 8% per annum in rubles. The flexible approach to the interest rate estimation ensures targeted approach to each borrower, opening eventually new opportunities for the Bank's clients."

Being one of the largest universal banks of Russia, the Bank of Moscow offers small and medium-sized enterprises not only borrowed resources, but also a wide range of modern financial solutions – opening and maintenance of companies' settlement accounts, implementation of payroll card programmes, as well as favorable service terms for the employees of SME.