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Monday 04 July, 2011

OJSC Nomos Bank

NOMOS BANK to Issue Notes in 13 Currencies

RNS Number : 6854J
OJSC Nomos Bank
04 July 2011
 



NOMOS BANK to Issue Promissory Notes in 13 Different Currencies

NOMOS-BANK launches a new program to issue promissory notes denominated in more than 10 different currencies. Besides usual denominations in rubles, US dollars and Euro, NOMOS-BANK customers now have an opportunity to purchase promissory notes denominated in Japanese yen, South African Rand, Norwegian Krones, Swiss francs, Canadian Dollars, Australian Dollars, British Pounds, New Zealand Dollars, Singapore Dollars and Chinese Renminbi.

New NOMOS-BANK note program gives its enterprise customers an opportunity to further diversify their investment portfolio by using stable and profitable instruments and at the same time to hedge their currency risks.

"For example, NOMOS-BANKS notes denominated in Australian dollars pay an interest of 7.5 % per annum which is much higher than US dollar or Euro note interest rate," says Roman Pivkov, Senior Vice President, NOMOS-BANK. "At the same time, Australian dollar is a strong and stable currency supported by developed and capable economy."

Holders of NOMOS-BANK notes could pay and redeem their instruments either in foreign currency or in Russian rubles at Central Bank's exchange rate.

Experts estimate the current capacity of Russian notes market amounted to billion rubles with 70% to 80% of debt denominated in rubles and the rest in US dollars and Euro.

"Notes denominated in unusual currencies represent a new type of instrument that we are hoping to leverage the further growth of NOMOS-BANK's investment business," suggests Roman Pivkov. "We expect to raise up to 500 million rubles through the issue of new notes."

NOMOS BANK Group is the 8th largest Russian banking groups by assets and the 2nd largest privately-owned Russian universal bank with total assets of RUB 569.7 bn and equity of RUB 61.3 bn as of March 31, 2011. NOMOS-BANK Group operates the 9th largest branch network in Russia with approximately 300 branches and representative offices in the majority of economically significant regions of Russia. NOMOS-BANK is a leader of investment market offering a full range of banking services to enterprise, small business and retail customers.

NOMOS-BANK's Investment Division is actively dealing with securities, interbank loans, repo transactions and outright forward and spot foreign exchange, while at the same time providing brokerage, investment management and debt financing services. As of March 31, 2011, Investment Division of NOMOS-BANK served approximately 800 customers. By the end of 2010, NOMOS-BANK was within the top 3 banks in four out of seven nominations for the annual "Dealer of the Year" award of the Moscow International Currency Association (MICA). A special recognition was granted to NOMOS-BANK experts working in the forwards, foreign exchange and interbank loan markets.

For further information please contact:

Alexander Dmitriev

Head of Public Relations

Phone: +7 (495) 797-32-69 (ext. 3318)

E-mail: dmitriev_avl@nomos.ru

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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