International Moscow Bank was founded in October 1989 and capitalized with the hard currency reserves of Vnesheconombank, with the aim that IMB may eventually replace the troubled Vnesheconombank.

[1] In the 1990s and early 2000s, IMB developed lending and banking services first to larger Russian companies, then to smaller firms and retail clients.

[5] In 2001, IMB merged with the Russian subsidiary of Bank Austria.

[7] The next year, after a series of transactions, HVB's subsidiary Bank Austria secured full ownership of IMB by acquiring the EBRD's remaining equity stake.

The main focus is on lending to small and medium-sized enterprises; the retail services sector is developing less actively.