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NOMOS-BANK purchased around 500 tons of precious metals in bullion in 2013

20.01.2014

At the end of 2013, NOMOS-BANK had strengthened its position in the precious metals market. Over the past year, it purchased 99.6 tons of gold, up 37.8% compared to 2012, and 399.5 tons of silver, up 24.2% compared to 2012.

NOMOS-BANK acquires the majority of its precious metals from Russian subsoil and financial institutions. In 2013, it purchased 81.7 tons of gold and 394.6 tons of silver from them, which is 82% and 98.7% of total purchases respectively.

In 2013, NOMOS-BANK also increased its volume of precious metals purchased overseas. The volume of gold was up 80.8%, totaling 17.9 tons. Total silver purchased was 4.9 tons.

Over the course of its work on the precious metals market NOMOS-BANK has created a full-financing cycle for industry enterprises: from the exploration and production of precious metals to processing and subsequent sale, including for export. The Bank also provides products which hedge risks associated with fluctuations in the prices of precious metals.

NOMOS-BANK was the first Russian bank to launch a service that allows customers to trade in precious metals online. NOMOS-BANK customers also have the unique option of remotely opening unallocated metal accounts (UMA) through the NOMOS-Link mobile bank. Large volume purchases of precious metals by NOMOS-BANK ensure the constant availability of a certain amount of metal in the Bank so customers can, when necessary, remove metal in physical form from unallocated metal accounts.

The Bank not only uses its own funds, but also regularly attracts syndicated loans from foreign investors. Of the 15 syndicates organized by the Bank since 2001, 9 loans totaling USD 1.1 billion were used to finance companies in the Russian gold industry. The last syndicated loan attracted by NOMOS-BANK to finance mining companies was in November 2013 and was the largest in the Bank's history, totaling USD 240 million.

NOMOS-BANK is one of the top three leaders of the Russian market of precious metals and on the basis of its 2013 results was recognized as the Best Russian Bank in the precious metals market. The Bank has received this prize seven years in a row.