Novikombank Key Facts and Information

Novikombank is a Russian bank that was established in 1969. It has a long history of providing banking services to its customers.

The bank has a network of over 150 branches across Russia, making it a significant player in the country's banking sector.

Novikombank offers a range of financial products and services, including loans, deposits, and payment services. Its services are designed to meet the needs of individuals, businesses, and organizations.

The bank's headquarters is located in Moscow, Russia's capital city.

Worth a look: Banking Russia

Novikombank has been authorized to work under the state defence order, indicating its involvement in supporting national security initiatives.

The bank has received recognition for its export-oriented activities, winning the "Most Export Oriented Russian Bank" prize in the "Exporter of the Year 2014" competition.

In 2015, Novikombank underwent recapitalization through Federal Loan Obligations (PFZ), a significant financial restructuring move.

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

The bank has received recognition for its export efforts, winning the "Most Export Oriented Russian Bank" prize in the "Exporter of the Year 2014" competition.

In July 2015, Novikombank underwent a recapitalization through Federal Loan Obligations (PFZ).

The bank's financial performance has been impressive, with a record profit of 19.4 billion rubles received at the end of 2022.

A significant portion of this profit, 4.9 billion rubles, was allocated for the payment of dividends.

Novikombank, a Russian state-owned bank, has opened a representative office in Havana, Cuba, marking the first time a bank from Russia has done so.

The office was granted a license by Cuba's central bank on June 7.

This move is part of growing economic ties between Russia and Cuba, which have strengthened into a "strategic partnership" since the Russian invasion of Ukraine.

Russian tourists have been visiting Cuba in greater numbers since 2022, and oil and wheat shipments have provided some relief to the island nation.

A different take: Russian National Reinsurance Company

Cuba is one of the few countries that accepts the Russian MIR credit card.

Novikombank plans to support Russian clients' trade and investment activity in Cuba.

The bank's chairwoman, Elena Georgieva, sees this move as an important step in Russian-Cuban relations.

This development is likely to be seen as a show of force from Moscow amid tensions with the West over the Ukraine conflict.

Cuban President Miguel Diaz-Canel has visited Moscow four times in the last few years, highlighting the strengthening ties between the two nations.

Suggestion: Russian Standard Bank

Novikombank is a Russian bank with a long history, dating back to 1969. It was established as a savings bank for the Soviet Union's Ministry of Finance.

The bank's headquarters is located in Moscow, Russia's capital city. Novikombank has a strong presence in the country's financial sector.

Novikombank offers a range of banking services, including corporate and retail banking, as well as investment and asset management.

AvtoVAZ OJSC initially joined the bank's shareholders in 2008 after additional shares were issued.

The Rostechnologii Group of Companies acquired a 20 percent stake in the bank in 2011.

Rostec increased its stake in the bank to 23.63% in May 2014.

By April 2018, Rostec had acquired a 74.23% stake in the bank.

Rostec signed agreements to buy out shares from all remaining shareholders on July 26, 2018, effectively collecting 100% of Novikombank.

Elena Georgieva became the Chairman of the Board of Novikombank on March 14, 2016, after previously heading the Rostec Treasury since 2013.

Novikombank participates in the financial rehabilitation of OJSC FundServiceBank, a decision made by the Bank of Russia Board of Directors in April 2015.

This shows that Novikombank is involved in helping other financial institutions recover from difficulties.

The analytical credit rating agency ACRA upgraded Novikombank's credit rating to A+(RU) in September 2021, with a stable outlook.

This upgrade indicates that ACRA views Novikombank as a reliable and stable financial institution.

Additional reading: Home Credit & Finance Bank

Bank information can be complex, but understanding the basics can make a big difference.

A bank's routing number, also known as an ABA number, is a nine-digit code that identifies the bank and its location.

This number is used for direct deposit, wire transfers, and other electronic transactions.

Some banks have multiple routing numbers, so it's essential to verify the correct number for your transactions.

The account number, on the other hand, is a unique identifier for your specific account.

It's usually a 10- to 12-digit number that's used to track your account activity.

You can find your account number on your bank statement, check, or online banking platform.

The bank's SWIFT code, if applicable, is used for international transactions and is typically an 8- to 11-character code.

It's a combination of letters and numbers that identifies the bank and its location.

Some banks may require you to provide the SWIFT code for international wire transfers.

Suggestion: List of Banks in Russia

The data sources for bank information are quite diverse and comprehensive.

The EU Sanctions Map is a visualisation of EU sanctions policy, covering a broader set of policies and entities than the EU consolidated sanctions list.

Banks registered in Russia are listed, including their unique identifiers (BIK, OGRN), addresses, and other details.

The UK sanctions collated by the Foreign, Commonwealth & Development Office provide a list of entities subject to sanctions.

The United States Government Accountability Office (GSA) and the Office of Foreign Assets Control (OFAC) provide consolidated sanctions lists.

The European Union publishes a sanctions list as part of its Common Foreign Security Policy, implemented by all member states.

The Australian government publishes a list of entities subject to targeted financial sanctions under Australian sanctions law.

The data has been enriched with information from external databases, including the Permanent Identifier (PermID) and the Legal Entity Identifier (LEI) codes.

A list of external datasets includes the Companies database of the Russian Federation and the Federal Tax Service.

Here is a list of some of the data sources:

Sanctions have been imposed on Novikombank in relation to the 2022 Russian invasion of Ukraine. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned the bank under E.O. 14024 for operating in the financial services sector of the Russian Federation economy.

The bank's subsidiary companies were also sanctioned. This means that any transactions or dealings with these companies may be restricted or prohibited.

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

Novikombank is directly controlled by Rostec and is also part of the Russian entities subject to U.S. Department of the Treasury sanctions.

Here's a list of some of the entities that Novikombank is associated with: