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Thursday, September 21, 2017

Bank of Moscow summarizes 2014 SME performance

The Bank of Moscow released its performance report on Wednesday regarding small and medium-size enterprise (SME) development over the year.

SME clients saw $6 billion worth of loans since the beginning of the year, despite decreasing amounts of corporate lending throughout the Russian market. The bank reported growth in its portfolio, despite the turbulent macroeconomic climate.

The portion of SME clients increased 1.8 times since the start of 2014.
Growth in these areas can be attributed to new services, the bank said. The electronic intrabank payment system allowed corporate clients constant access to accounts and services.

"We are satisfied with the results of development of business with SME clients in 2014. Our results show the high efficiency and effectiveness of models for work with small and medium-size business, introduced in 2012. Today I can say that we have achieved very high performance for the past three years: The loan portfolio in this segment grew seven times, and more than 40,000 new clients were attracted during that time," Vladimir Voyeykov, member of the Board of the Bank of Moscow, said.

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Bank of Moscow - Russia

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