OREANDA-NEWS. August 23, 2011. The international auditing firm "Deloitte & Touche CIS", one of the largest and the most reputable all over the world, has confirmed the financial statements of IBA-MOSCOW for 2010 drawn up in accordance with the international financial reporting standards, reported the press-centre of IBA.

For IBA-MOSCOW, 2010 became the period of further successful development and improvement of all basic indicators of financial performance. According to the statements, in 2010, the volume of Bank's assets increased by 3,479.6 million rubles, or by 24.4%, and at the year-end of 2010 totaled 17,767.8 million rubles.

Successful performance was the result of purposeful policy of IBA-MOSCOW aimed at building a diversified business model, which ultimately eliminates the risk of dependence on the individual clients or the groups of clients, as well as the types of activity. At the year-end of 2010, the Bank's net assets (capital according to IFRS) amounted to 1,123.9 million rubles. Focus on the market's corporate segment in combination with intensive business development enabled IBA-MOSCOW to increase the volume of issued credits. In 2010, the Bank's credit portfolio grew up by 24.5% (11,824.9 million rubles.) accounting for 66.5% of aggregate assets. The share of credits issued to legal entities accounted for 90% of the overall structure of credit portfolio.

IBA-MOSCOW succeeded in demonstrating a good dynamics of growth in the volume of deposits from individual clients, the fact that testifies to their stable confidence in the Bank. According to audit report, the volume of funds on the clients' accounts increased by 31.9% and, at the year-end of 2010, amounted to 5,119.1 million rubles (3,882.1 million rubles in 2009). The volume of funds on the corporate clients' accounts in the Bank totaled 2,927 million rubles (up by 6.5% as compared to the previous year), the same of retail clients - 2,192 million rubles (up by 93.2%).

In 2010, the Bank's interest income increased by 51.8% and reached 1,899.1 million rubles, while the non-interest commission income increased by 32% and amounting to 198 million rubles. Structure of earnings testifies to fact that the Bank focuses on credit transactions, the volume of which is dynamically increasing. At the same time, the Bank is constantly striving for the more balanced proportion between interest and commission incomes. In 2010, the net profit according to IFRS increased by 53.2% and totaled 54.7 million rubles (before tax - 106.7 million rubles).

IBA-MOSCOW is an active operator in the market of interbank crediting. In 2010, the volume of funds borrowed at the interbank market grew by 36.1% and totaling 11,445 million Russian rubles. Meanwhile, last year a club deal on borrowing the financial facilities in the amount of 15 million US dollars was concluded. Among the bargainers were "Raiffeisen Zentral Bank Osterreich AG", Closed Joint-Stock Company "Raiffeisenbank", "OTP Bank Plc", Open Joint-Stock Company "OTP Bank". In 2010, the Bank served 115,000 remittances, mainly between Russia and Azerbaijan, for the amount of 106 million US dollars. Issue of bankcards of "Visa" and "MasterCard" systems reached 26 000 units.

As of January 1, 2011, to maintain the service of plastic cards, the Bank installed 173 POS-terminals and 40 automatic teller machines. In 2010, Federal Customs Service entered IBA-MOSCOW into the register of banks and other credit organizations having the right of issuing bank guarantees for payment of customs charges. As of January 1, 2011, the sales network of IBA-MOSCOW included 2 branches and a network of additional offices in St.-Petersburg and Yekaterinburg, as well as 8 divisions in Moscow. In 2010, additional offices were opened on the basis of branches in St.-Petersburg and Yekaterinburg. The total number of the Bank's service outlets increased up to 14. The Bank plans a further increase in its presence at places of concentration of potential customers, first of all, in the Moscow region and the European part of Russian Federation.

IBA-MOSCOW is a full-fledged and active member of some authoritative professional and the public organizations in Russian Federation, and it is also the authorized bank of the government of Moscow. IBA-MOSCOW takes an active part in the work of the Intergovernmental Commission of Azerbaijan and Russia and actively cooperates with the CIS Executive Committee.

"Deloitte & Touche CIS" is a part of the international group of firms "Deloitte & Touche Tohmatsu Limited", one of the world leaders in the field of professional services that numbers nearly 170,000 employees in more than 140 countries around the world. "Deloitte & Touche" was one of the first companies that started rendering consulting services on the CIS market.