Subsidiary of International Bank of Azerbaijan renamed
Azerbaijan, Baku, Feb. 7 / Trend N.Ismayilova /
Name of the subsidiary of the International Bank of Azerbaijan (IBA) has been changed, the Bank said on Tuesday.
New full name of the bank in English : "The Bank "IBA-MOSCOW" Limited liability company, and the short - "The Bank" IBA -MOSCOW "LLC.
Office of the Federal Tax Service of Moscow registered the changes to the charter of the bank related to a change of name of the bank. The amount of the bank's authorized capital was also increased to 856.11 million rubles (previously - 511.540 million).
The Central Bank of Russia issued a new general license to "The Bank "IBA-MOSCOW" Limited liability company" on Jan.30, 2012.
IBA-Moscow is a subsidiary of International Bank of Azerbaijan and the first and only bank with 100-percent Azerbaijani capital that is carrying out its activities in Russia, since 2002. As of Jan.1, 2012 assets of the Bank amounted to 22.9 billion rubles, credit portfolio - 16.844 billion rubles, owned capital - 2.13 billion rubles. Moody's Investors Service assigned to the bank B3 credit rating. Moody's Interfax assigned to the Bank Baa3.ru long-term rating on national scale.
The Bank annually demonstrates ongoing dynamics of development, providing comprehensive financial services to legal entities and individuals. Currently the bank has a network of 14 sales offices in Moscow, St. Petersburg and Yekaterinburg.
Bank "IBA-Moscow" is a full and active member of several prestigious professional and community organizations operating in the territory of the Russian Federation, is the authorized bank of the Moscow Government. Bank "IBA-Moscow" takes an active part in the work of the intergovernmental commission of Azerbaijan and Russia, is actively cooperating with the executive committee of the CIS.