OREANDA-NEWS. July 29, 2011. The Management Board of the Bank of Moscow has taken a decision to significantly expand the powers of the Bank’s branches to make independently decisions regarding the granting of loans to small and medium businesses. The maximum established limit is up to RUR 150 mln.

The decision is meant to speed up the decision-making procedures pertaining to loans to be extended to small and medium businesses with the Bank being focused on the services provided to such enterprises. In Q3 2011 the Bank plans to additionally revise the established limits with the aim of increasing them.

"Delegating powers to the Bank’s branches to make independently decisions on extending loans to borrowers is a part of the Bank’s strategy aimed at increasing its share in the small and medium business servicing market", says Irina Nikitenko, Vice President of the Bank of Moscow.