11.08.2011, 10:19
Deloitte & Touche CIS Confirmed IBA-Moscow Financial Statements
OREANDA-NEWS. August 11, 2011. International auditing company Deloitte & Touche has confirmed the financial statements of IBA-Moscow for 2010, compiled on International Financial Reporting Standards, reported the press-centre of IBA-Moscow.
The Bank reports that the past year became for IBA-Moscow a period of successful development and improvement of all key financial performance indicators. According to the audit report, in 2010 Bank’s assets increased by 3.479 billion rubles or 24.4% up to 17.767 billion rubles by the end of 2010.
Successful indicators were the result of IBA-Moscow’s task-oriented policy on building of diversified business model when risk of dependence on separate clients or their groups and activities is eliminated to the maximum extent.
Bank’s net assets (capital on IFRS standards) totaled 1.1 billion by the end of 2010. Targeting the corporate market segment in combination with intensive development of business allowed IBA-Moscow to increase the volume of loans. Bank’s loan portfolio in 2010 grew by 24.5% (11.8 billion rubles) that made up 66.5%. in overall assets.
In the structure of credit portfolio the share of loans to legal entities amounted to 90%.
IBA-Moscow succeeded to demonstrate good dynamics of growth of clients’ finances that testifies of their stable trust to the Bank. Money on clients’ accounts, according to the audit report, increased by 31.9% up to 5.119 billion rubles by late 2010 (3.88 billion rubles in 2009). Money of corporate clients in the Bank’s accounts reached 2.927 billion rubles (a rise of 6.5% compared with the previous year) and retail customers 2.19 billion rubles. (a rise of 93.2%).
Bank’s interest income in 2010 increased by 51.8% up to 1.899 billion, while non-interest fee income by 32% up to 198 million rubles. The structure of income indicates Bank’s orientation to credit operations, the volume of which is actively growing. At that, the Bank is committed to a more balanced ratio of interest and fee income.
Last year the net profit on IFRS grew by 53.2% and was registered at 54.7 million rubles (before taxation — 106.7 million rubles).
IBA-Moscow is an active operator in the interbank lending market. The amount of finances raised in the interbank market increased in 2010 by 36.1% up to 11.445 billion Russian rubles. Besides, last year it was concluded a club deal on raising finances for \\$15 million. The deal participants were Raiffeisen Zentral Bank Osterreich AG, Raiffeisenbank CJSC, OTP Bank Plc, and OTP Bank OJSC.
In 2010, the Bank served 115 000 remittances mainly between Russia and Azerbaijan in the amount of \\$106 million. Issue of bank cards Visa and MasterCard reached 26,000. As of 1 January 2011 the Bank installed 173 POS terminals and 40 cash machines for service of bank cards.
In 2010, IBA-Moscow was included by the Federal Customs Service in the register of banks and other lending institutions having the right to issue bank guarantees of payment of customs duties.
As of 1 January 2011 IBA-Moscow sales network includes 2 branches and a network of offices in the cities of St. Petersburg and Yekaterinburg, and 8 sub-branches in Moscow. In 2010, additional offices were opened on the basis of branches in St. Petersburg and Yekaterinburg. The total number of service points of the Bank grew up to 14 points. The Bank plans to increase further its presence in the sites of concentration of potential customers, primarily in the Moscow region and the European part of Russia.
IBA-Moscow is a full and active member of several prestigious professional and community organizations operating in Russia, and the authorized bank of the Moscow Government. IBA-Moscow has been actively involved in the activities of the Intergovernmental Commission of Azerbaijan and Russia and is actively cooperating with the CIS Executive Committee.
The Bank reports that the past year became for IBA-Moscow a period of successful development and improvement of all key financial performance indicators. According to the audit report, in 2010 Bank’s assets increased by 3.479 billion rubles or 24.4% up to 17.767 billion rubles by the end of 2010.
Successful indicators were the result of IBA-Moscow’s task-oriented policy on building of diversified business model when risk of dependence on separate clients or their groups and activities is eliminated to the maximum extent.
Bank’s net assets (capital on IFRS standards) totaled 1.1 billion by the end of 2010. Targeting the corporate market segment in combination with intensive development of business allowed IBA-Moscow to increase the volume of loans. Bank’s loan portfolio in 2010 grew by 24.5% (11.8 billion rubles) that made up 66.5%. in overall assets.
In the structure of credit portfolio the share of loans to legal entities amounted to 90%.
IBA-Moscow succeeded to demonstrate good dynamics of growth of clients’ finances that testifies of their stable trust to the Bank. Money on clients’ accounts, according to the audit report, increased by 31.9% up to 5.119 billion rubles by late 2010 (3.88 billion rubles in 2009). Money of corporate clients in the Bank’s accounts reached 2.927 billion rubles (a rise of 6.5% compared with the previous year) and retail customers 2.19 billion rubles. (a rise of 93.2%).
Bank’s interest income in 2010 increased by 51.8% up to 1.899 billion, while non-interest fee income by 32% up to 198 million rubles. The structure of income indicates Bank’s orientation to credit operations, the volume of which is actively growing. At that, the Bank is committed to a more balanced ratio of interest and fee income.
Last year the net profit on IFRS grew by 53.2% and was registered at 54.7 million rubles (before taxation — 106.7 million rubles).
IBA-Moscow is an active operator in the interbank lending market. The amount of finances raised in the interbank market increased in 2010 by 36.1% up to 11.445 billion Russian rubles. Besides, last year it was concluded a club deal on raising finances for \\$15 million. The deal participants were Raiffeisen Zentral Bank Osterreich AG, Raiffeisenbank CJSC, OTP Bank Plc, and OTP Bank OJSC.
In 2010, the Bank served 115 000 remittances mainly between Russia and Azerbaijan in the amount of \\$106 million. Issue of bank cards Visa and MasterCard reached 26,000. As of 1 January 2011 the Bank installed 173 POS terminals and 40 cash machines for service of bank cards.
In 2010, IBA-Moscow was included by the Federal Customs Service in the register of banks and other lending institutions having the right to issue bank guarantees of payment of customs duties.
As of 1 January 2011 IBA-Moscow sales network includes 2 branches and a network of offices in the cities of St. Petersburg and Yekaterinburg, and 8 sub-branches in Moscow. In 2010, additional offices were opened on the basis of branches in St. Petersburg and Yekaterinburg. The total number of service points of the Bank grew up to 14 points. The Bank plans to increase further its presence in the sites of concentration of potential customers, primarily in the Moscow region and the European part of Russia.
IBA-Moscow is a full and active member of several prestigious professional and community organizations operating in Russia, and the authorized bank of the Moscow Government. IBA-Moscow has been actively involved in the activities of the Intergovernmental Commission of Azerbaijan and Russia and is actively cooperating with the CIS Executive Committee.
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