The International Bank of Azerbaijan (IBA) announced last week that assets of subsidiary IBA-Moscow rose 13.6 percent in the first six months of 2014 compared to the same period last year.
The bank's total capital for the first half of the year reached $88 million, an increase of 21.3 percent.
IBA-Moscow's credit portfolio during the period reached $700 million, growing nine percent. Loans given to individuals rose seven percent, while loans issued to legal entities increased eight percent. The volume of funds in accounts related to legal entities was up 21 percent, and the volume of funds in accounts related to individuals jumped 55 percent.
Founded in 2002, IBA-Moscow is one of the top 150 biggest Russian financial institutions, with offices in Moscow, Saint Petersburg and Yekaterinburg.
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