In order to meet Capital Market’s requirements, in 2003 NLB Tutunska banka AD Skopje introduced the custody cervices, i.e. opening and maintenance of custody accounts for non-residents who trade on the Macedonian Securities Market.

Starting from 2003, until today NLB Tutunska banka constantly improves the custody services. These services can be divided in 2 groups: core services and value added services:

Gained experience, high professional standards and excellence in custody services, especially in the area of cash settlement of transactions; communication with brokerage companies; communication with Central Securities Depository; reporting on Corporate Actions; result in increasing interest for custody services by the clients of the Bank.

Custody Fee structure:

• Safekeeping and administration fee p.a;
• Transaction fee;
• Proxy voting;
• Other expenditures – upon client’s request (statements from the Central depository, notarized translations of documents etc.).

Documentation for account opening procedure for private entities:

• Application for opening of a custodian account;
• Specimen of signatures;
• Agreement for opening of a custodian account;
• Copy of valid identification document (passport, ID);
• Personal identification.
  
  

CUSTODY SERVICES FOR LEGAL ENTITIES

In order to meet Capital Market’s requirements, in 2003 NLB Tutunska banka AD Skopje introduced the custody cervices, i.e. opening and maintenance of custody accounts for non-residents who trade on the Macedonian Securities Market.

Starting from 2003, until today NLB Tutunska banka constantly improves the custody services. These services can be divided in 2 groups: core services and value added services:

Gained experience, high professional standards and excellence in custody services, especially in the area of cash settlement of transactions; communication with brokerage companies; communication with Central Securities Depository; reporting on Corporate Actions; result in increasing interest for custody services by the clients of the Bank.

Custody Fee structure:

• Safekeeping and administration fee p.a;
• Transaction fee;
• Proxy voting;
• Other expenditures – upon client’s request (statements from the Central depository, notarized translations of documents etc.).
  
  

Documentation for account opening procedure for legal entities:

• Application for opening of a custodian account;
• Specimen of signatures from authorized personnel;
• Copies of passports;
• Agreement for opening of a custodian account;
• Authorization to the Bank to debit and credit the accounts;
• Authorization to the Bank to send instructions to the Central depository;
• Notarized copy of firm’s registration, not older than 6 months on the application date;
  
  

CUSTODY BANK TO OPEN-END INVESTMENT FUNDS

As a result of development of the Financial Market in Macedonia and the increase of volume of trading on the Macedonian Stock Exchange, a new type of financial institutions was created – Companies for Management with Investment Funds.

Following the trends of Financial Market development, and in line with the strategic determination of continuous widening of the range of products, NLB Tutunska banka has decided to offer the service of Custody Bank for Investment Funds. NLB Tutunska banka is a Custody Bank for the first open-еnd investment funds in the Republic of Macedonia.

The employees of NLB Tutunska banka have the skills required for quality performance of activities related with:

• Safety and transparency in valuation and safekeeping of the assets of unit holders;
• Compliance with the Legislation for operations of the Investment Funds;
• Safekeeping of Fund Assets, i.e. the Assets of Unit holders;
• Settlement of transactions related with investing of Funds in Macedonia and abroad;
• Execution of orders for funds complaint to legal requirements and prospects;
• Corporate actions;
• Collection of dividend, interest or other type of income from Securities in which the Funds have invested;

Custody department will continue to offer safety, quality and efficiency when performing custody services in order to meet the complex needs of the clients.

Why choose NLB Tutunska banka:

• The best performing Macedonian bank with highest international rankings assigned to banks in Macedonia, Bank of the Year 2003, 2006 and 2007 in Macedonia, Best Bank by Gross Profit for 2002, 2003, 2004 and 2006 and Best Bank by ROE in 2005
• NLB Tutunska Banka is among the first banks to offer custody services since 2003
• The first Bank to offer custody services to the first open-end investment funds formed in November 2007
• Well-known banking brand in the country and abroad-member of NLB Group-the highest ranking group in SEE
• Modern management and highly qualified and skilled employees
• High quality standards
• Client orientation
• Continuous adaptation to the changes in custody legislation
• Commitment to continuous improvement of custody services
• Stability and safety of the Bank, which can be guaranteed by the structure of shareholders and NLB DD Ljubljana – our strategic partner

For additional information, please contact us at:

NLB Tutunska Banka AD Skopje
12 Makedonska Brigada 20
1000 Skopje, Makedonija
Tel:  +389 2 3105 848
+389 2 3105 883
+389 2 3105 869
Fax:  +389 2 3105 694
Email: custody@tb.com.mk