IBAR-Moscow intends to enter TOP100 of Russian banks

As at late 2006, IBAR-Moscow's capital reached 502mln rubles, assets made 4.630mln rubles, loan portfolio 2.695mln rubles.

Money transfers rose to $84.5mln in 2006 from 3.9mln in 2002.

Moreover, the Bank became an associative member of VISA International and issued 5,500 cards. It plans to join MasterCard in near future.

5 additional offices for individual and corporate bodies and one cash office for individuals were opened in Moscow. The Bank opened branches in St. Petersburg and Yekaterinburg. IBAR-Moscow is represented in three economically developed regions of Russia. 70 of Azerbaijanis living in Russia are centralized in these regions.

Russian Central bank granted a license to IBAR-Moscow in 2004. APA