The volume of Veles Capital's securities trading increased +14%, the client base grew +22% in 2017
1 February 2018 16:16
Veles Capital Investment Company announced 2017 results. Total volume of securities trading increased +14% as compared to 2016 and exceeded 13 trillion rubles . The number of clients of the company increased +22%.
The total volume of stock exchange trading grew by 17% up to 8,4 trillion rubles, volume of brokerage transactions increased by 12% up to 12,3 trillion rubles, OTC trading volume grew 11% to 4,6 trillion rubles. Stock market trading volume amounted to 7,1 trillion rubles. Bond market trading volume grew 52% up reaching 5,5 trillion rubles. Positive dynamics is also visible in the growth of assets under management. It increased 47% to 47,2 billion rubles.
The company’s promising financial results were highlighted by the leading Russian and international rating agencies. At the end of 2017 the Expert RA agency assigned Veles Capital IC with a credit rating at the level RuA+ with a stable outlook. High assets quality and a significant level of the company's liquidity and sufficiency of its own funds, as well as high diversification of assets, were the key factors that influenced the rating. In the same period, S&P International rating agency confirmed the credit rating of Veles Capital IC at BB-/B with a stable outlook.
The high level of Veles Capital’s client services was also appreciated by market players. Thus, professional market participants awarded the company a laureate title of the Cbonds Awards 2017 in the nomination "Best brokerage services on the bond market".
The company was also included in the list of the largest brokers providing access to the currency market of the Moscow stock exchange by Kommersant newspaper.
In 2017 Veles Capital Investment Company started provision investors with the access to the Saint Petersburg Stock Exchange and the opportunity to trade in high liquid securities of foreign issuers included in the S&P 500 index.
In 2017 the company also launched the specific retail services business under the brand "Veles Broker". Also, an agent-partner sales network was developed to expand the company’s client base and geography of presence.
"In 2018 we will continue our regional expansion. Changing market conditions and new technologies make us constantly review our products and develop actively our client services. This work results in the growing transaction volumes and the growth of the client base ", said Alexey Gnedovsky, CEO of Veles Capital IC.
Veles Capital is one of the oldest investment companies in Russia. It was founded in 1995 and has been managed by Dmitry Bugaenko and Alexei Gnedovsky since then. For more than 10 years the company is present in top-10 list of largest Russian investment companies by volume of transactions on the securities market.