Friday, August 18, 2017

NOMOS to place $200 million in free funds on deposit

NOMOS Bank and the Federal Mandatory Health Insurance Fund recently signed an agreement to place $200 million worth of temporarily free funds on deposit at the bank's organization.

NOMOS won a competition between seven banks, in which they were evaluated based on quality of service and expertise, including international long-term credit ratings and capital adequacy of the bank.

The bank proposed overnight and corporate overnight short-term deposits, term deposits without replenishment, deposits with replenishment and partial withdrawal of deposits, savings deposits with replenishment, long-term "golden mean" deposits with the possibility of early termination and income, advance deposit and multi-currency deposits.

Under the agreement, the bank will allow customers to charge interest on the remaining balance of the amount, which is produced by the supplementary agreement of the parties, based on the amount of average daily balances maintained or irreducible balance amount within a specified period.

NOMOS is the sixth largest Russian banking group by assets, with assets totaling $28.66 billion and a net worth of $2.88 billion. It has around 300 offices in several Russian regions.