Toyota Bank, the banking subsidiary of Japanese automaker Toyota Motor in Russia, has launched retail operations in Moscow, according to the head of the Toyota Kreditbank representative office, as revealed by Interfax.

We have already opened two Toyota Bank subdivisions in Moscow and official Toyota and Lexus dealerships on the Rublyovskoye highway. We will try to open 16 subdivisions at our dealerships, he said, as cited by Interfax.

Toyota Bank, which operates under Toyota Financial Services and Lexus Financial Services, offers loans to buy new Toyota and Lexus cars, and has further plans to expand its product line, Interfax reported.

The publication also revealed the head of Toyota Kreditbank, which owns 99% of Toyota Bank, as saying: Toyota sold 72,331 cars in Russia in the first half of 2007 and 6,946 Lexus cars. Thus, I think our products will be in demand.