OREANDA-NEWS.  July 12, 2013. The Bank of Moscow has opened the first in 2013 new regional office. The backup office Avtozavodsky located at 1B, Vedenyapina Street, Nizhny Novgorod, will provide services to both retail and corporate clients.

At the official opening ceremony Vladimir Verkhoshinsky, Board Member of the Bank of Moscow, revealed the Bank’s plans aimed at expanding the regional network. Thus, prior to the end of 2013, 14 new outlets are planned to be opened in various regions of the country. Vladimir Verkhoshinsky laid a special emphasis on the results of Nizhny Novgorod branch’s operations showing that the new team had become a success.

Within the first six months of 2013 only the branch had increased its credit portfolio by 36% (up to 960 million RUR) and extended cash loans to the total of 193 million RUR (by 60% more than during the same period of the last year).

In her answering speech Marina Moiseyeva, Director of Nizhny Novgorod branch, also stressed the success of her team in their work with small and medium size business clients. Over the first six months of 2013 the small and medium size business portfolio had increased by 37% and reached the mark of 1.2 billion RUR.