The bank's pretax profit declined 3.6% to 6.8 billion rubles ($244 million) in the reporting period, against January-September 2007.

Assets increased 34.5% to 681 billion rubles ($25 billion) as of October 1, 2008 from the start of the year.

The Bank of Moscow was established in 1995. The Moscow government owns a 44% stake directly and another 15% through the Moscow Insurance Company.