OREANDA-NEWS. August 22, 2011. Nomos Bank (LSE, RTS, MICEX: NMOS), the seventh in total assets and the second largest universal banking group in Russia, has purchased 16.83% in Novosibirsk Municipal Bank, thereby increasing the Group’s interest in the bank to 95.64%. Nomos Bank purchased an initial 25.37% of Novosibirsk Municipal Bank in April 2009 and has been steadily increasing its stake since then, reported the press-centre of Nomos Bank.

Novosibirsk Municipal Bank is a universal financial institution of regional scale, which provides a wide range of modern, hi-tech banking products and services that enjoy high demand among businesses, organizations and residents of Novosibirsk City and Novosibirsk Region.

Novosibirsk City and Novosibirsk Region are among the key target business areas for Nomos Bank and this transaction is a logical step in the Group’s development strategy for that region.