IBA-Moscow joins Russia's most profitable banks
Azerbaijan, Baku, March 29 / Trend /
The International Bank of Azerbaijan - Moscow joined 500 most profitable banks in 2009 by RBC's rating. It held the 293-rd position, the bank said.
As of January 1, 2010, the bank's profit amounted to 37.7 million rubles. As of the reporting period, net assets of the bank amounted to 14.93703 billion manat. It allowed the bank to take the 134-th position from 500.
According to the annual review of the banking sector published on the website of the Central Bank of Russia, the profits of Russian banks in 2009 amounted to over 205 billion rubles, while the previous year this figure hit 409.2 billion rubles. During the last year banks have lost about 50 percent of profits.
IBA-Moscow is a subsidiary of the International Bank of Azerbaijan. It is the first and only bank with full Azerbaijani capital. It operates in Russia.