OREANDA-NEWS. June 06, 2008. The branch of the "International Bank of Azerbaijan - Moscow" in St.-Petersburg has already been operating at the Russian financial market for five years, reported the press-centre of IBA.

The "International Bank of Azerbaijan - Moscow" is an affiliated structure of the International Bank of Azerbaijan, the first and only bank with a 100% Azerbaijani capital that pursues its activity on the territory of the Russian Federation.

At present, "IBA-MOSCOW" is among 200 major Russian banks in terms of the basic indicators of its activity and plans to join in TOP 150 within the next several years.

The branch in St.-Petersburg starts playing more and more prominent role in the overall scope of activity of the Bank. By the year-end of 2007, the total balance constituted 1,099.5 million ruble, while the advances portfolio totaled 861,9 million ruble. The Branch actively manages the accounts of legal entities and individuals.

As of today, in the Northwest Region of Russia, the strategy for development of retail business, one of the main priorities of the Bank, is actively being implemented. The services on cash transfers between Russia and Azerbaijan without setting up the bank account are one of the most needed, popular and fast growing services of the Bank.

The amount of cash transfers in the Bank's branch in St.-Petersburg at the year-end of 2007 constituted US\\\\$24 million, while the volume of served transfers totaled 16,000. At the present time, the Petersburg branch carries out an active issue of its own Visa cards. The network of ATMs and POS-terminals develops, as well as the salary projects are implemented. The employees of the Branch constantly work over the development and introduction of modern card products. The near-term plans include the issue of cards of the international payment system of MasterCard.

The branch personnel are confident that the first regional division of "IBA-MOSCOW" has stood the test of time with honor and will further continue exhibiting the example of an effective and reliable performance.