Azerbaijan, Baku, April 3 / Trend I. Khalilova /
MBA-Moscow considers possible purchase of any Moscow or regional financial institution within strategy on infrastructure development, the bank said.
(Presently, this issue is urgent amid devaluation and bankruptcy of many banks because of the world financial crisis.)
Presently, MBA-Moscow is represented in three economically developed regions of Russia (a branch is opened in Yekaterinburg besides Moscow and Saint-Petersburg). Over 70 percent of Azerbaijanis live and over 75 percent connected with Azerbaijani business is concentrated there.
Saint-Petersburg's branch demonstrated significant development rates in 2008: percent and commission incomes increased 34 and 152 percent accordingly, profit before taxation hit 38.08 million rubles.
MBA-Moscow tries to suggest its services to potential clients by increasing sale within development of retail direction of activity. Presently, 6 additional offices oriented on complex service of legal and physical entities and two operational funds for physical entities operate in Moscow.
A new operational fund Golovinskaya opened in 2008. Presently, total number of the bank's branches hit 12. The number of branches is planned to expand in the nearest years.
As of late 2008 the bank's capital increased 16 percent and hit 1,016 million rubles, assets reached 9,858 million rubles (an increase of 39 percent). MBA-Moscow actively loans projects of corporative clients, finances Russian real sector of economy, as well as export-import operations between the Russian Federation and Azerbaijan. The bank's loan portfolio reached 7,662 million rubles in 2008 that an increase of 63 percent compared to 2007; net profit increased 65 percent and hit 104 million rubles.
MBA-Moscow is subsidiary of the Azerbaijani International Bank. MBA-Moscow is the first and only bank with 100 percent Azerbaijani capital conducting its activity on the territory of the Russian Federation.
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