OREANDA-NEWS. March 17, 2011. On the basis of Veles Capital’s financial report NRA experts concluded that the company has high financial stability and is able to fulfill it’s obligations. The most financial data has positive dynamics, equity capital is increasing (also because of authorized capital increase), and capital’s adequacy is on the high level. The company has acceptable level of liquidity vital for creditability; commercial viability is increasing together with net profit. Veles Capital has high business activity, total turnover in 2010 Q4 formed about 1,6 trillion RUR (USD 52 billion) thus making the company one of TOP-5 Russian largest investment companies.

 “Rating results reflects strong Veles Capital’s positions on Russian market, long history, financial stability, high capitalization level, professionaland experienced management team, professional risk-management which is able to limit current risks”, - said Elena Zinovieva, senior NRA analyst, - The company holds strong positions on Russian market and has stable profits. Veles Capital is developing company, management adopts new technologies, improve main activities and services – all this impacts positively in company’s market positions.

During the rating interview Alexey Gnedovskiy, Veles Capital’s CEO, pointed out that the company is following it’s strategic goal to develop universal investment bank for large corporate and private investors: “Among our main priorities – increase of the turnover and client base on all main activities”. NRA experts stressed out that they can see the successful implementation of these priorities as Veles Capital improved it’s positions in NRA rankings.

Also NRA experts pointed out that Veles Capital for many years has been holding the leading positions of the Russian promissory notes market, is rated amongst largest bond market operators and since 2011 has been actively developing the services on stock market. The company’s clients base is large, diversified including both corporate and private clients and is also increasing. Clients are able to operate vide range of financial instruments on different markets. Veles Capital pays much attention to its development, is improving the services, and enlarges the product line. In particular in 2011 Q2VelesCapital is planning to start providing margin transaction services.

Veles Capital IC has been operating on Russian financial market since 1995. The company renders trust management and brokerage services on Russian and foreign stock markets, as well as on the OTC market, realizes corporate finances, financial consulting projects, provides wealth management and depositary services.  Veles Capital is managed by it’s founders, owners and top-managers Dmitry Bugaenko (is rated amongst TOP-10 best financial managers according to Russian Managers Association) and Alexey Gnedovskiy. According to various ratings Veles Capital for many years has been the leader of Russian promissory notes market (with 2010 turnover over 1,3 trillion RUR (USD 42 billion)), is rated amongst largest stock market operators (with 2010 turnover of about 2,8 trillion RUR (USD 94 billion)) and bond market (with 2010 turnover over 1,3 trillion RUR USD 42 billion)). The company’s total turnover in 2010 formed 5,6 trillion RUR (USD 182 billion).

National Rating Agency (NRA)operates on the market since 2000 and is one of the leading Russian rating agencies. Today more than 500 companies of different fieldspossesses NRS ratings. Among them banks, investment, management and insurance companies, non-bank credit organizations, real economy enterprises, issuers, pension funds, registers. NRA ratings are officially recognized by the Russian authorities, professional units and organizations.