OREANDA-NEWS. December 08, 2011. Nomos Bank (LSE, MICEX, RTS: NMOS), which is the seventh largest Russian bank in terms of total assets and the second largest privately owned universal banking group in the country, has been voted Bank of the Year Russia for 2011 by The Banker. This prestigious award, from one of the world’s leading international banking and financial publications, was presented to the bank’s management at a ceremony in London. The award underscores the bank’s successful international IPO in the first half of 2011 and confirms the bank’s sustainable development, good asset quality and effective risk management throughout the year, reported the press-centre of Nomos Bank.

Each year, The Banker, owned by The Financial Times group, presents the Bank of the Year award to banks from 150 countries around the world. This year’s award generated more than 500 candidates from 147 countries. Candidates are evaluated on a range of criteria which include qualitative indicators (profitability, asset quality and financial stability) as well as quantitative factors (large capital raising, mergers and acquisitions, introduction of new technologies, products or business lines).

Speaking about the achievements of Nomos Bank, the Finance Editor for The Banker magazine, Philip Alexander, said: "The longer the market for initial public offerings remains shut, the more astute the timing of Nomos Bank’s 24.99% IPO in April 2011 appears. The \\$800 million on offer generated orders for \\$3.2 billion. The bank’s organic growth in 2010 was 34.8% and total growth was 91.3%...and growth has been achieved without sacrificing asset quality".

Earlier this year, The Banker called Nomos Bank one of the fastest growing financial and credit organizations in the world in 2010, 100 positions higher up the ranking compared with 2009. Nomos Bank ranked second among banks in Central and Eastern Europe in the Tier 1 Capital category. In the category of Largest Financial and Credit Institutions in Central and Eastern Europe, Nomos Bank moved from 15th to 13th place. The bank also took 10th place in the World’s Banks with Fastest Growing Assets category.