JSCB "NOVIKOMBANK"
TypeJoint-Stock Commercial Bank
Founded1993 (1993)
HeadquartersMoscow, Russia
Key people
Georgieva Elena Aleksandrovna (President)
OwnerRostec
RatingB2 (Moody's), B− (Fitch) (2017)[1]
Websitenovikom.ru

Novikombank is a Russian bank specializing in financing of enterprises in the heavy-machinery, automotive, high-tech, oil and gas industry. Novikombank is ranked among the top 40 largest Russian banks. Member of the deposit insurance system.[2]

Ownership

As on 15 February 2016, Novikombank is 57,68% owned by Rostec.[3]

Subsidiaries and associated companies

According to the decision of the Bank of Russia Board of Directors in April 2015, Novikombank participates in the financial rehabilitation of OJSC FundServiceBank.[4]

In September 2021, the analytical credit rating agency ACRA upgraded Novikombank's credit rating to A+(RU) (outlook stable).[5]

Activities

Novikombank is one of the banks authorized to work under the state defence order.[6]

"Banking Business" prize winner.[7]

"Most Export Oriented Russian Bank" prize winner in the "Exporter of the Year 2014" competition.[8]

Recapitalization of Novikombank though Federal Loan Obligations (PFZ) in July 2015.[9]

At the end of 2022, Novikombank received a record profit of 19.4 billion rubles. It was decided to allocate 4.9 billion rubles for the payment of dividends.[10]

Sanctions

Sanctioned by New Zealand in relation to the 2022 Russian invasion of Ukraine.[11]

On 24 February 2022 the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Novikombank under E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy. Subsidiary companies were also sanctioned.[12]Sanctioned by the US Department of the Treasury.[13]

In December 2023 the United Kingdom subjected the bank to additional sanctions, including a prohibition on correspondent banking relationships on top of an asset freeze.[14]

References

  1. ↑ "Рейтинг банков - 2017 (таблица)". Forbes.ru. 23 March 2017. Retrieved 1 May 2017.
  2. ↑ "Novikombank is ranked among the top 40 largest Russian banks"
  3. ↑ "Ростех пообещал помочь Новикомбанку деньгами
  4. ↑ "Novikombank participates in the financial rehabilitation of OJSC FundServiceBank"
  5. ↑ "Эмитент АО АКБ «НОВИКОМБАНК», JSCB "NOVIKOMBANK"". www.acra-ratings.ru. Retrieved 12 July 2022.
  6. ↑ "Novikombank is one of the banks authorized to work under the state defence order"
  7. ↑ ""Banking Business prize winner"". Archived from the original on 3 March 2016. Retrieved 25 February 2016.
  8. ↑ "Exporter of the Year 2014"
  9. ↑ "Recapitalization of Novikombank"
  10. ↑ "Новикомбанк решил выплатить дивиденды за 2022 год". Banki.ru (in Russian). 10 July 2023.
  11. ↑ "Russia Sanctions Regulations 2022". Retrieved 11 February 2023.
  12. ↑ "U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs". 24 February 2022.
  13. ↑ "Sectoral Sanctions Identifications List" (PDF). Retrieved 19 May 2023.
  14. ↑ "Sanctions against Russia – a timeline". 19 December 2023.

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