Wednesday, September 19, 2018

NOMOS Bank receives excellence awards from Deutsche Bank

NOMOS Bank recently received the Euro STP Excellence Award and U.S. Dollar STP Excellence Award from Deutsche Bank, NOMOS' correspondent bank, for the implementation of cross-border settlement in euros and U.S. dollars.

Tim Fife, a representative of Deutsche Bank, said the bank had a high percentage of quality servicing of international payments via NOMOS Bank correspondent accounts, at 99.8 percent and 99.37 percent, respectively.

Last year's results also netted NOMOS Bank four prestigious banking awards for making international payments in euros and dollars. The bank received the STP Award in 2011 from Commerzbank, MT202 Elite Quality Recognition Award from J.P. Morgan, Citi Performance Excellence Award for achieving an MT103 STP rate of 95 percent or higher and the Citi Performance Excellence Award for achieving an MT202 STP rate of 98 percent or higher.

Major international financial institutions granted the awards based on excellent quality of payments in foreign currency, and NOMOS has won such awards every year. Additionally, NOMOS Bank's high quality of international payments helped to expedite calculations and minimize operational costs.

NOMOS is the sixth largest banking group in Russia by total assets. It is the second largest privately-owned Russian universal banking group. Last year, the bank had total assets of $28.69 billion in equity and $2.88 billion under audited accounts.

NOMOS also has an extensive branch network in Russia, with 300 offices in economically important regions of the Russian Federation, including Moscow, St. Petersburg, Tyumen and the Novosibirsk and Khabarovsk regions.