OREANDA-NEWS. March 5, 2009. President of the Bank of Moscow Andrei Borodin held a press conference on the Bank’s performance in 2008 and its prospects for 2009.

The Bank’s assets according to the Russian Accounting Standards have soared 49% up to RUR755.3 bln. The Bank’s equity has increased RUR14.6 bln (24%) reaching RUR76.6 bln as of January 1, 2009. The growth of capital was due to the 12th share issue completed in August, 2008 and to the Bank’s profit.

The pre-tax income in 2008 was RUR5.7 bln, net profit — RUR3.6 bln. The Bank’s change in profit is attributed to additional loan-loss provisions as well as the securities revaluation caused by volatility on the financial markets.

The number of corporate clients has risen to 105 thousand (3% growth), with the number of individual clients growing 16% to 9.6 mln. As of January, 1 the total loan portfolio excluding interbank credits was RUR507.9 bln (54% rise). The retail portfolio increased 43% and reached RUR98.9 bln.

The volume of funds drawn from corporate clients and individuals has grown 52% to RUR698.6 bln with the growth of individuals’ deposits being 13% (to RUR137.7 bln). The Bank of Moscow ranks No.3 in terms of private deposits.

The number of cards issued by the Bank of Moscow has grown 30% (to 11 mln). The number of ATMs has exceeded 1800.

The Bank of Moscow has continued its expansion in the Russian regions. Thus, the number of the Bank’s points-of-sale as of January, 1 was 395. On the whole, the Bank opened 33 offices in 2008. The Bank also delivers services to individuals in 471 Moscow based postal offices.

In 2008 the Bank of Moscow launched a subsidiary in Serbia, Bank of Moscow j.s.c. - Belgrade. Also, the Bank bought shares of OAO KAB "Bezhitsa-bank" (Russia).

The Bank of Moscow’s high reliability has been confirmed by international rating agencies. The Bank’s long-term credit rating has been affirmed at Baa1 by Moody’s Investors Service and at BBB- by Fitch Ratings.