OREANDA-NEWS. June 25, 2014. According to the bank,  Bank "IBA-Moscow" Ltd / (subsidiaryof the International Bank of Azerbaijan, IBA) will increase an equity by more than 40%.

As of March 31, 2014 the Bank's equity amounted to 3 billion 240.3 million rubles.

The shareholder bank - IBA  decided to increase the capital of the Bank" IBA-Moscow "by  28 million Azerbaijani manat (on the basis of the exchange rate which was current as at the date of   09.06.2014 (44.25 rubles.) - 1 billion 239 million rubles.) Growth of capital of their branch by more than 40% OJSC "International Bank of Azerbaijan" relates to the expansion of the volume of business and strategic development objectives in the territory of the Russian Federation "-   reported  from the bank.

The press release stressed that such a significant capital increase of the Bank "IBA-MOSCOW" allow to maintain an adequate ratio of equity to assets growth, ensuring financial stability and extra opportunities for development of the financial institution in the medium and long term.

Bank IBA-Moscow was founded in 2002 as a 100% branch of OJSC "International Bank of Azerbaijan." Currently, the Bank's network consists of 14 sales offices across Moscow, St. Petersburg and Yekaterinburg.