Cooperation agreement signed with OAO “Bank of Moscow”

Cooperation agreement has been signed between the Republic of Tatarstan and OAO “Bank of Moscow”. The signing procedure was held at the Tatarstan Government House.

The document was signed by the Tatarstan President Rustam Minnikhanov and president and board chairman of OAO “Bank of Moscow” Mikhail Kuzovlev.

Mikhail Kuzovlev said that the agreement determines general conditions of cooperation. Appendix to the document stipulates certain projects with total funding of 13 bln roubles. These are projects in housing and utilities sector, municipal services and infrastructure, transport sector. According to Mikhail Kuzovlev, there are medium-term and long-term projects.

Besides, OAO “Bank of Moscow” is going to become the leader in servicing small and medium-size enterprises in Tatarstan.

Mikhail Kuzovlev informed that for the beginning of the year loan portfolio of the branch of OAO “Bank of Moscow” in Tatarstan made 2 bln roubles, whereas now it makes 5 bln roubles.

Board chairman of OAO “Bank of Moscow” said that they are willing to finance projects connected with preparation for Universiade 2013 in Kazan and football matches 2018.

Information:

OAO “Bank of Moscow” (www.bm.ru) is one of the largest full-service banks in Russia providing diversified financial services for juridical entities and individuals. Main shareholder is VTB Group (94,87%). According to the development strategy, “Bank of Moscow” will be developing as a full-service commercial bank within VTB Group.

Currently, OAO “Bank of Moscow” provides services for 100 thousand corporate and 9 mln private clients. Among juridical entities are large industry-specific, small and medium-size enterprises.