The Bank of Moscow recently announced results for small and medium-sized enterprises for the first six months of the year.
The SME credit portfolio in the first six months of 2014 amounted to $6.5 million, higher than originally estimated. The share of overdue loans in the SME credit portfolio dropped from seven percent to 4.2 percent.
SME clients' guarantee portfolio in the first half amounted to $1.2 million, up 1.3 times from the beginning of the year due largely to the Bank of Moscow's support for state and municipal SMEs, according to the bank.
In the first six months of the year, the bank extended financing for road repairs in Zelenograd, the reconstruction of utilities at the Moscow Zoo, replacement of lifting equipment in Saint Petersburg, construction of the Perm Eastern Bypass road and reconstruction of the M-53 Baikal Highway.
"We are satisfied with the results of our work during six months of 2014," Vladimir Voyeykov, a member of the board of the Bank of Moscow, said. "[Until] the end of the year we keep following optimistic forecasts, we continue to actively cooperate with SME-enterprises, using our advantage--the reliability of a state bank with an individual approach to each client and high quality service."
- ANELIK BANK - ARMENIA: IDBank has a new board chairman
- ABN AMRO SERVICES COMPANY: ABN AMRO to make more sustainability information available to investors
- CENTRAL BANK OF AZERBIJAN: The Central Bank trained primary school teachers as a pilot project
- BELARUS MINISTRY OF FOREIGN AFFAIRS: Belarusian Foreign Ministry hosts a round table on the occasion of the 100th anniversary of the modern Belarusian diplomatic service
- ARMECONOMBANK - ARMENIA: Armeconombank and singapore-Based EFA Financial Institutions Debt Fund PTE. LTD. Investment Company Signed a Loan Agreement
- ASIAN DEVELOPMENT BANK: ADB Sends Condolences to Indonesia in Wake of Tsunami Disaster
- ARDSHININVESTMENTBANK - ARMENIA: Ardshinbank announces New Year deposit
- AG BANK: Happy birthday, Mr. President!
- BASIS BANK - GEORGIA: Hurry up! The action started on mortgage loans in GEL!
- BALTIC INTERNATIONAL BANK - UKRAINE: Opening hours for the Christmas holidays