NOMOS-BANK becomes a TOP-3 Russian bank in terms of trade finance

NOMOS-BANK has become a TOP-3 Russian bank in terms of trade finance based on the outcome of the poll conducted by the Trade Finance Magazine. This influential British edition noted that “Russia deserves a separate nomination due to the exceptional overall volume and the size of individual deals, which were commenced and closed in 2007”. This resulted in setting up a new nomination that was included in the nominations list for the first time: “Best local bank in trade finance — Russia”. Roselkhozbank and VTB were the other two banks included in TOP-3.

“We emphasize that trade finance is a priority direction of our international business development, — noted Yuri Lekarev, Director of NOMOS-BANK Department for International Operations. — As of today, the volume of foreign borrowing obtained by the Bank for financing Russian exporters and importers exceeds USD 1 milliard”.

More than 15 thousand people representing predominantly corporate business participated in the poll, which was conducted over a period of six weeks. As compared with last year, the total number of nominations increased to 26, including due to the emergence of new specific nominations for the banks from BRIC countries (Brazil, Russia, India, and China). The respondents were asked to choose three best banks in terms of project finance in each nomination. The nominations were set up based on both geographical principle (best bank in a region or in a specific country) and specific products (best export finance bank).

NOMOS-BANK was one of the first Russian banks to carry out a deal with a foreign export credit agency after the 1998 crisis. In 2001, it became the first Russian bank to obtain a foreign loan for financing gold export. Since then, NOMOS-BANK has been nearly doubling its trade finance volume annually.

NOMOS-BANK presently cooperates with more than a hundred foreign banks. The vast majority of them partake in NOMOS-BANK’s deals using various trade finance instruments. As regards long-term trade finance, NOMOS-BANK actively works with foreign export credit agencies from such countries as Germany, France, Italy, Spain, Finland, Slovenia, the United States, Canada etc.