MOSCOW, January 18 (RIA Novosti) - International Moscow Bank (IMB) said Thursday its net income fell 48.6% quarter-on-quarter in October-December 2006, to 638.3 million rubles (about $24 million).
IMB, one of Russia's 10 largest banks in terms of assets, was established in October 1989 as the country's first joint-venture bank with foreign participation.
The bank attributed its lower net income figure to a quarter-on-quarter increase in negative exchange rate differences, and provisions for loans.
As of September 30, 2006, IMB's assets aggregated $7.7 billion.
