OREANDA-NEWS. On May 11, 2007 in Moscow, Annual General Meeting of Shareholders of International Moscow Bank (IMB) and 85th Board of Directors Meeting took place, reported the press-centre of IMB. The Shareholders approved the Annual Report, Balance Sheet, Profit & Loss Account of the Bank for the year 2006. The Shareholders elected the Board of Directors. At the Meeting it was decided to pay dividends only on preferred non-documentary registered shares in the total amount of RUR 104 million.


In 2006 IMB net profit more than doubled (+108%) and reached USD 220 million after tax. Assets grew by 70%, equity - by 67% compared to 2005. Loan portfolio rose from USD 3,2 billion in 2005 to USD 6,2 billion. Loans to individual customers multiplied by 2,5 times. RoE improved from 28,4% in 2005 to 37,1% in 2006. Bank Austria Creditanstalt CEO and Chairman of IMB Board of Directors Erich Hampel: “We are moving in the right direction. With IMB, we gained one of the most important banks in what is arguably the most important market in CEE region. It is our clear aim to grow vigorously in Russia and therefore we will continue to support IMB’s expansion targets”.

The Shareholders approved “Ernst&Young” as the Bank’s external auditor for the year 2007 by International Accounting Standards. During members’ of the Board of Directors meeting that took place after the General Annual Shareholders’ Meeting re-elected Mr Hampel as the Chairman, and Mr Hemetsberger as Deputy Chairman. IMB being a member of UniCredit Group decided to start the process of the Bank’s brand name change and further activity under the UniCredit Bank brand. UniCredit Bank will keep all the best that has IMB, and at the same time it will push the bank to go forward. Moving to the UniCredit Bank, the bank is not just changing its name and logo. The new bank is becoming a part of one of the most successful and dynamic European banking groups, which opens new opportunities and perspectives for its customers.


Talking about IMB growth plans for 2007, Chairman of the Board of Management Yury Tverskoy said: “We will remain focused on the quality of client service and branch network expansion. Aiming to achieve these goals, we will attract customers” attention to competitive advantages and opportunities of the UniCredit Group and we expect support from our key shareholder in terms of capital financing, IT and risk-management technologies improvement".