OREANDA-NEWS. December 25, 2012. Mikhail Kuzovlev, President and Chairman of the Board of the Bank of Moscow, being the President of the Moscow Chamber of Commerce and Industry, took part in a meeting of the United Panel of the Moscow Science, Industrial Policy and Entrepreneurship Department.

In the course of the event the results of the Department’s activity in 2012 were summed up, and the most active representatives of business as well as the heads of enterprises that had attained highest results in the current year were awarded.

Many of the enterprises awarded at the meeting are the clients of the Bank of Moscow. The Bank gives much attention to supporting the small size businesses of the capital city. The key task of the Bank is to create a favourable atmosphere for the development of small and medium size businesses including those working in the sphere of housing and public utility services.

With the aim of implementing the above task the Bank works in cooperation with Moscow organisations that support small size businesses. Specifically in 2012 the Bank of Moscow signed a cooperation agreement with the state organisation Small Size Business of Moscow. Within the framework of the signed agreement the Bank of Moscow renders assistance to small and medium size businesses of Moscow helping them to receive subsidies required to cover the costs incurred in connection with servicing the loans granted for business development.

A new pattern of work with small size businesses has been introduced by the Bank of Moscow. As a result over the 11 months of the current year the number of small and medium size business corporate clients has increased by more than 10% and reached 116.4 thousand with the majority of clients being the representatives of small size business (110.4 thousand enterprises). In Moscow the number is small and medium size business sector clients is 32 thousand with 29.9 thousand being small size businesses.

From the beginning of the year the credit portfolio of the small and medium size business clients has increased by 90% amounting to 84 billion RUR.