NOMOS-BANK borrows over $100 mln to finance trade deals Jan-Mar

Russia’s NOMOS-Bank borrowed over U.S. $100 million in January-March from foreign banks for the purpose of financing trade deals, up from about $30 million in the same period of last year, the bank’s press office said Wednesday.

The bank managed to fully refinance its liabilities to foreign banks in the period, NOMOS-Bank said.

In 2007, the bank’s total amount of short-term and long-term borrowings, including trade financing deals and syndicated loans, was at about $1 billion, the bank said.

NOMOS-Bank, established in 1993, is one of the largest Russian private banks providing a full range of financial services. The bank is involved in corporate, investment and private banking as well as retail services.