Finance

Finance

IBA-Moscow released audited financials

30 March 2009 16:19 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. IBA-Moscow, a subsidiary of the International Bank of Azerbaijan, has released financial figures for 2008 after successful completion of audit.
IBA-Moscow said pre-tax profit amounted to 164 million rubles, or $5.6 million, up 69% on last year.
The subsidiaryâ€™s capitalization increased by 17% to 1 012 billion rubles or about $34.5 million.
The assets exceeded in 9.86 billion, or $335.53 million for the first time, up 39% on a year ago.
At the same time, loan portfolio accounted for 73% of assets (7.16 billion rubles or $243.53 million). The amount of borrowings increased by 57% while interbank loans provided by IBA-Moscow grew by 18% to 5.98 billion rubles or $203.6 million.
Deposit portfolio exceeded 590 million rubles or $20.8 million for corporate clients and 726 million rubles or $24.71 million for individuals.
IBA-Moscow climbed up 37 ranks to sit 171st in the Top-500 List of Russian Banks.
IBA-Moscow is among the first 20 in terms of assets growth rate.