The Bank of Russia recently approved a large capital increase for Bank IBA-Moscow, LLC.

After examining documents from Bank IBA-Moscow, the main department of the Central Federal District of the Russian Federation Central Bank decided to allow the commercial bank to increase its capital. The bank can now increase its capital in amounts up to but not over 2,110,426,650 Russian rubles. The change will be official when the relevant documents are sent to the registration body.

Founded in 2002, Bank IBA-Moscow is a universal bank, with assets in the range of 34.7 billion rubles as of July 1. The bank has offices in Yekaterinburg, Moscow and St. Petersburg. Bank IBA-Moscow, LLC, is a subsidiary of OJSC International Bank of Azerbaijan.