Saturday, June 23, 2018

Nomos Bank puts $15.71 million in small business loan funds on deposit

Nomos Bank recently signed an agreement with the Foundation for Assistance to Small Business Credit in Moscow in order to place temporary free funds of the organization on deposit at the bank.

As of Sept. 2, Nomos Bank has temporarily made available assets of the fund in the amount of $15.71 million with a 740-day term.

Eight banks have applied for participation in the tender, and Nomos has been recognized as one of the best, according to the results of the proposal. Participants were evaluated on their level of interest rates and compliance with the bank on all requirements, including international long-term credit rating and capital adequacy of the bank.

Nomos Bank offers a wide range of deposits for businesses to effectively manage the organizations of free liquidity.

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

Additionally, Nomos Bank offers the ability to charge interest on the remaining balance of the account, produced by supplementary agreement between two parties, depending on the average daily balances maintained or the irreducible balance amount within a specified period.

The bank is the sixth largest banking group in Russia. The Foundation for Assistance to Small Business Credit was established in 2006 by the Government of Moscow as a non-profit organization to provide small business lending in Moscow.