SDM-Bank obtained Russian Central Bank license for precious metals deposit and investment arrangements.
The Central Bank of Russia has granted SDM-Bank a license to perform operations with precious metal (PM) deposits and investments.
The new license will facilitate SDM-Bank to substantially extend the range of services provided to both individual and corporate customers. According to Russian legislation and International Banking practices this license will set a ground for the Bank to make PM purchase and sale deals, to offer new PM deposits and special lending PM-collateralized programs. The Bank also intends to place PM into it’s deposit accounts with other banks, as well as to provide PM lending.
«We put our most focus on delivering our customers all the types of financial services accepted within international practices. With that, considering exchange rate fluctuations and other macroeconomic risks, precious metals operations may well enough become a substantial matter of help to both customers and the Bank itself» – SDM-Bank CEO Maxim Solntsev emphasized.