IBA - Moscow Bank Included in Register of Public Procurement Banks
OREANDA-NEWS. April 23, 2014. "IBA - Moscow" bank was included in the unified register of state and municipal procurement provision guarantor banks.
According to the decision of the Federal Treasury Regional Operations Department, "IBA - Moscow bank" Limited Liability Company received a status of fully legitimate participant of contract system in the area of goods, works and services procurement for state and municipality provision and gained a right to issue bank guarantees to ensure state and municipal obligations are implemented.
It should be noted the bank guarantee is one of the most widespread tools to ensure implementation of state and municipal contracts. By providing such a document, the Bank assumes the potential financial risks of bidders and winners which might occur during the execution of public contracts.
Bank "IBA Moscow" Limited Liability Company was founded in 2002. It is a branch of the "International Bank of Azerbaijan" Open Joint Stock Company being a largest bank of the republic and the South Caucasus region (assets - 8.7 billion U.S. dollars, offices in 77 foreign countries, ranked 34 among the CIS 's leading banks).
Key priorities of the "IBA - Moscow' Bank is to support progress of trade and economic relations between Azerbaijan and Russia, and facilitate development of beneficial business relations between two countries.
At present, the "IBA - Moscow" bank is a full-service bank and listed among 150 largest financial - credit institutions of Russia. As of January 1, 2014, the bank's assets is 32.9 billion rubles and shareholders equity amounted to 3 billion rubles. Currently, the bank's network is represented by offices in Moscow, St. Petersburg and Yekaterinburg.