Perm/07.06.2012 The Perm branch of NOMOS Bank has opened a credit line of up to 1 billion rubles for the Perm Engine Company — a leader in aviation and industrial engine building in Russia and the CIS (and part of the United Engine Corporation).
The goal of the credit line is to replenish the company’s working capital.
PMZ and NOMOS Bank have been working together since 2010. In addition to lending, the bank also provides cash services. At present the bank is considering financing some of the Perm Engine Company’s priority development projects. The projects that have been defended by the UEC planning committee include ‘Creating an assembly and testing center’ and ‘developing the repair workshop’.
“This deal is an important step in establishing the strategic partnership and cooperation between NOMOS Bank and the Perm Engine Company,” said Valery Terenin, managing director of the Perm branch of NOMOS Bank. “We are happy to provide support to one of the largest companies not just in the Perm region, but in Russia. The professional management at PMZ and the company’s success in its work allow me to talk about the high quality of our partnership, and to hope for long-term development of our business relations.”
Perm Engine Company’s deputy managing director for economics and finance DmitryOvsyannikov:
“Choosing NOMOS Bank as one of our partners was easy thanks to the flexible lending policy they offered us, which is ideal for our company. The list of loan products offered by NOMOS Bank is quite broad. And the Perm Engine Company is unquestionably interested in new financial solutions offered by NOMOS Bank.
Our partnership is developing in the area of investment into production. The operational decision by NOMOS Bank to offer limited credit to replenish Perm Engine Company’s working capital reflects positively on the successful implementation of their plans. And I can look confidently toward long-term cooperation.”
Perm Engine Company (PMZ) mass produces aviation engines for civil and military applications, as well as industrial gas turbine units for power stations and gas transportation.
PMZ is a part of the United Engine Corporation, a wholly-owned subsidiary of OBORONPROM specializing in engine-building assets.
OBORONPROM is a multi-faceted machine-building group of companies, founded in 2002. It is part of the Russian Technologies group of companies. Its primary activities are helicopter building (Russian Helicopters) and engine-building (UEC).
NOMOS Bank Group is eighth among Russian banking groups in terms of asset size and second among large Russian private universal banks. The group’s consolidated assets by IAS as of March 31, 2012 amounted to 670.3 billion rubles, with a capitalization of 80 billion rubles.
NOMOS Bank Group has a wide regional network, as of March 31, 2012 comprised of 294 offices in economically important Russian regions. A significant proportion of its business is concentrated in Moscow, St. Petersburg, the Tyumen region (including the Khanty-MansyiskAutonomous District), the Novosibirsk region, and the Khabarovsk region.
NOMOS Bank Group offers a wide range of banking services to corporate, retail, and small business clients. As of March 31, 2012, the bank’s client portfolio included 79600 small businesses and about 1.5 million individuals, including private banking clients.
NOMOS Bank has a BB rating from Fitch and a Ba3 rating from Moody’s. Both ratings are ‘stable’.