The Bank of Moscow recently released 2013 results in the medium and small enterprises sector, showing a cumulative credit portfolio of $5.5 billion, a year-on-year increase of 2.2 percent.
The bank is one of the market leaders by absolute figures of the credit portfolio growth in this sector. The share of overdue indebtedness in the medium and small enterprises credit portfolio decreased from 10.2 percent at the beginning of 2013 to 4.6 percent as of year-end.
The medium and small enterprises funding base amounted to $4.14 billion as of year-end, an increase of 50 percent from the beginning of the year, significantly higher than the market growth rate. Currently, the medium and small enterprises funding base makes almost half of the bank's total corporate funding base.
"Outstanding 2013 results are based on the systematic and profound work aimed at developing relations with the target sector customers and representatives of municipal and regional authorities. Our main advantage is that we clearly understand the problems and needs both of real economy companies and regional and municipal authorities. At present the bank offers a package that allows both enterprises and regions to solve the most acute and up-to-date issues," Vladimir Voyeykov, a member of the board of directors of the Bank of Moscow, said.
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