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In 2010, Nomos Bank Group’s small business loan portfolio totaled 19.1 billion rubles (678.6 million USD)

22.04.2011

In 2010, Nomos Bank Group’s small business loan portfolio totaled 19.1 billion (678.6 million USD) over 3.5 times higher than in 2009 (5.3 billion rubles). The volume of customer funds was up 4.7 times, reaching 22.0 billion rubles. Growth performance was the result of organic growth of the banking group, as well as the merge with the Khanty-Mansiysk Bank.

«2010 was a turning point for the small business lending market,» said the Director of Nomos Bank’s Small Business Department, Oleg Yushkov. «The market has perked up, there is a need for business expansion and, as a result, of additional funding. Nomos Bank is always trying to meet the needs of the market, so with the first signs of a recovery in the credit activity of entrepreneurs, we started to make qualitative changes to our programs. The Bank has cut rates for credit products three times, increased the amount and terms of credit, and reduced time taken to consider loan applications. We have introduced new risk-management procedures and standards of customer service.»

Throughout 2010, Nomos Bank increased the maximum loan amount for small business customers to 150 million rubles over up to 10 years. A line of loan products was reconstructed and new types of loans for business development were launched: Small, Medium, Medium Investment and the Car Loan for Business programs. Also during 2010, the Bank made significant strides in advancing cash-management services. The bank also substantially diversified its loan portfolio for small business loans by size and by region and sector.

«Small business in Russia is experiencing a significant shortage of banking services resulting, we expect, in the rapid growth in this segment over the next few years and we intend to work to increase our presence in this market,» said Oleg Yushkov.

The Nomos Bank Group is currently the 8th largest banking group in Russia by assets and the 2nd largest privately-owned Russian universal banking group. As of December 31, 2010 Nomos Bank total assets were RUB 530.2 billion and equity of RUB 57.9 billion under audited IFRS accounts. Nomos Bank Group has the 9th largest branch network in Russia with 300 offices in economically important regions of the Russian Federation, with the majority of its business concentrated in Moscow, St Petersburg and the Tyumen (including Khanty-Mansiysk autonomous district), Novosibirsk and Khabarovsk regions. The Nomos Bank Group provides a full range of banking services to corporate, small business and retail clients.