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In the first 9 months of 2013 NOMOS-BANK purchased 28.4% more precious metals than in the same period of 2012

08.10.2013

In the first 9 months of 2013, NOMOS-BANK bought 390.4 tons of precious metal bullion, a 28.4 % increase over the same period in 2012. Specifically, in the first three quarters of 2013, NOMOS- BANK bought 67.4 tons of gold, 32% up on the same period in 2012. The growth in the Bank’s purchases of silver was 27.6% for the first 9 months of 2013 with 323 tons. Total turnover of precious metals on September 30, 2013 was around USD 21 billion, up 23.5% on 2012.

"Operations with precious metals, where the Bank has over 15 years’ experience, is one of NOMOS-BANK’s strategic directions,” said vice president of NOMOS-BANK, Elena Magera.  “We actively cooperate with companies from the gold-mining industry, constantly improving our product line and increasing our quality of service. This allows us to steadily increase the volume of business – both through increased cooperation with existing customers and by attracting new clients."

NOMOS-BANK is working with nearly a third of all gold mining companies in Russia (the Urals, the Far East, Eastern Siberia, Yakutia and Chukotka), and also acquires precious metals in Kyrgyzstan.

During its time on the precious metals market, NOMOS-BANK has created full-cycle funding for the industry, from exploration and production of precious metals to their processing and subsequent sale, including for export. The Bank also provides products to hedge risks associated with changes in the price of precious metals.

NOMOS-BANK was the first Russian bank to launch a service that allows clients to trade in precious metals online, via its NOMOS-Link Internet bank. NOMOS-BANK customers also have the unique opportunity to remotely open unallocated metal accounts using NOMOS-Link mobile banking. The large volume of precious metals purchased by NOMOS-BANK ensures continued availability of a specified amount of metal at the Bank which means that, when necessary, customers can take possession of their metals purchases from a depersonalized metal account.

The Bank not only uses its own funds, but also regularly attracts syndicated loans from foreign investors. Of the 16 syndicated loans arranged by the Bank since 2001, nine loans totaling USD 1 billion were used to finance companies in the Russian gold mining sector.

NOMOS-BANK is one of the three leaders on the Russian precious metals market, and at the close of 2012 was voted Best Russian Bank on the precious metals market. The Bank received the prize for the sixth time running as part of a ceremony at Russian Bullion Awards, 2012, a fact which again confirms its leadership on the Russian precious metals market.