Friday, September 22, 2017

The assets of Yekaterinburg's IBA-Moscow branch grew by 51 percent in 2011

The assets of the Yekaterinburg branch of IBA-Moscow grew by 51 percent in 2011, according to a recent report.

IBA-Moscow, a subsidiary of International Bank of Azerbaijan, had assets totaling $39.6 million in early 2012, with the branch's tax profit for 2011 totaling $2.3 million, ABC.az reports.

By early 2012, the branch's credit portfolio amounted to $35.9 million, including loans to legal entities and individual entrepreneurs for $34.2 million and individuals for $1.6 million.

The priority areas for lending were manufacturing, construction, transport and communications, wholesale and retail trade, and real estate transactions.

The bank's lending to small and medium business in Yekaterinburg increased by 2.4 times from $8.7 million to $20.6 in 2011. A total of 29 operations were financed in 2011 and 102 consumer loans for $1.6 million were given in Yekaterinburg.

The volume of the population's deposits in the Yekaterinburg branch of the bank was $5.4 million by early 2012, with an increase of 79.7 percent in 2011, which was approximately 5.5 percent of the total deposits of IBA-Moscow. Last year, the branch paid interests for $255,504 on retail deposits, according to ABC.az.

In 2011, the bank transferred $319.380 in taxes, excluding profit tax, to the budget of the city of Yekaterinburg.

The IBA-Moscow branch in Yekaterinburg opened in September 2005. In March 2010, IBA-Moscow opened an additional office in Tagansky, and in August 2011 another office was opened in Zavokzalnaya.