CREDIT BANK OF MOSCOW RECOGNISED FOR CONTROL OF ASSET QUALITY

CREDIT BANK OF MOSCOW (CBM) has won the award for control of asset quality at the 10th Risk Management in Russia conference organised by Expert RA, a leading Russian ratings agency.

The award recognises CBM’s strong track record of managing its loan portfolio to maintain the high quality of its assets. CBM selects clients carefully and continually monitors client relationships and liquidity.

The Bank has historically maintained one of the lowest NPL ratios on the Russian market. As of 30 September 2013 the proportion of non-performing loans as a proportion of CBM’s gross loans to customers was 1.2% (1.0% as at 31 December 2012 and 1.1% as at 31 December 2011).

The Risk Management in Russia conference is organised by Expert RA to recognise the best risk-management practices in the financial services market. The awards are based on Expert RA’s survey of more than 700 companies and banks.

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CBM previously won Expert RA awards for the pace and quality of its asset growth in 2011 and 2012.