Worldwide

Bank of Moscow extended total USD2 billion worth loans to SME

August 18, 2008
Up to August 1 2008, August 1 inclusive, loan portfolio of small and medium sized enterprises, which are the customers of Bank of Moscow, exceeded the sum of USD2 billion. Small and medium sized enterprises which are the Bank’s customers hold over USD1.84 billion on their accounts.

Bank of Moscow SME Department Executive Manager Maxim Shindjapkin said: ‘The development in funding small and medium sized enterprises by means of loans is an important part of the business policy of Bank of Moscow. Loan portfolio in this segment has a growing tendency and its growth since the beginning of 2008 has amounted to 23%. Expansion in range of products, including Express loans to those who run private business as well as Express overdraft, which does not require any guarantees, are important factors for rise in the portfolio.

Back