OREANDA-NEWS. August 09, 2012. Bank of Moscow subsidiaries celebrate their 14th anniversaries. For instance, 6 August 1999 saw the simultaneous opening of subsidiaries of the Bank in Buryatiya, Omsk, Perm, Berezniki and Sochi, reported the press-centre of Bank of Moscow.

Over the 14 years of operating on the financial services markets in their regions, the Bank of Moscow subsidiaries have earned themselves the reputation of reliable financial partner for residents, enterprises and administrations of the relevant regions. When the Bank of Moscow joined the VTB Group in 2011, this gave the subsidiaries a new development incentive that will allow them, in the future, to occupy leading positions on the regional banking market. During the first half of this year, for example, the aggregate credit portfolio of the above subsidiaries increased on average by 17.1%. That of the Buryatiya and Perm subsidiaries increased by 50.23% and 22.51% to reach 1.6 billion and 2.7 billion, respectively.

One of the priority spheres of operation of the Bank of Moscow subsidiaries in the regions is retail business. The volume of funds deposited with the subsidiaries of the Bank rose by an average of 5% between 1 January 2012 and 1 July 2012 and, in individual regions, reached over RUB 1.5 billion (Sochi). The retail loans portfolio went up by an average of 10% over the last 6 months and by 16% in the Buryatiya and Berezniki subsidiaries.
 
Thousands of salaries in these regions are paid on to cards issued by the Bank of Moscow. In Perm, for example, over 17 thousand salary cards have been issued and in Berezniki, the number has topped 18 thousand.

For the convenience of clients, there are additional offices and a wide network of ATMs in the given regions: in Buryatiya – 17 machines, Omsk - 14, Sochi - 14, Perm – 35, and Berezniki – 24. In addition, for clients of the Bank of Moscow there are about 10 000 ATMs of the unified network throughout the country. Let us recall that, in July 2011, all the ATM systems of the Bank of Moscow, TransCreditBank and VTB24 all over Russia were combined. The majority of ATMs operate round the clock and offer an expanded functional, in particular, no commission is charged on cash withdrawals from bank cards.

Over their 14 years of operation, the Buryatiya, Omsk, Perm, Berezniki and Sochi subsidiaries of the Bank of Moscow have earned themselves the reputation of active participants in the socio-cultural life of the region. During this time, a large number of social and charity programmes have been implemented, including charitable assistance being rendered to sports organisations, kindergartens, schools and hospitals.