OREANDA-NEWS. October 15, 2009. IBA-Moscow LLC (the Russian subsidiary of the International Bank of Azerbaijan) is raising resources of its parent company for charter capital increase.

IBA-Moscow chairman of board Fuad Abdullayev says that they are planning growth of charter capital and registering a subordinated loan from the IBA.

“All the permissions from the Central Bank of Russia have been received and the registration will be over within a week. We raise a loan of 2.5 million euro and by the end of the year IBA-Moscow’s charter capital will increase up to 1.25-1.3 bn rubles,” Abdullayev said.

IBA-Moscow assets totaled approximately 10.5 bn rubles, capital about 1.1 bn rubles, and loan portfolio close to 8.1 bn rubles.

“This year we observed growth of both assets and loan portfolio. We managed to keep the business we are having today. As a whole, we increased our financial indicators by around 10%. IBA-Moscow is in Top 30 of Russian banks on stress stability and following 2009 is going to be in Top 150 of the best Russian banks,” Abdullayev said.