Novikombank provides a $100 million loan to STLC
Novikombank has provided a loan to State Transport Leasing Company (STLC) for $100 million to finance the company’s current activities, its investment and other projects, says STLC.
According to Elena Georgieva, Chairman of the Management Board, Novikombank, “partnership with Russia’s largest leasing company is of high significance for the bank with its status of the domestic industry’s anchor bank”.
“Providing funding for STLC projects Novikombank contributes to the development of the country’s transport system, particularly through leasing of domestic aircrafts and water transport”, said Elena Georgieva.
Sergey Khramagin, Director General of STLC emphasized that a loan agreement with Novikombank expands the opportunities of STLC in financing of the company’s key projects.
The State Transport Leasing Company (GTLK) is Russia’s largest player in the lease market. It leases out aircraft, vessels, rail transport, road vehicles and special equipment to domestic transport enterprises and invests in the development of Russia's transport infrastructure. The company's sole shareholder is the Russian Federation represented by the Ministry of Transport. GTLK holds double-B ratings from the world’s three leading international rating agencies and an A+(RU) national rating from ACRA. As at 30 September 2017, GTLK's IFRS assets exceeded RUB 291 billion.
Novikombank is one of the top 30 largest banks in Russia.Since its foundation in 1993, Novikombank has been financing strategic high-tech industries of the real sector of the Russian economy, facilitating implementation of ambitious national-wide projects, investing in the future of the country. Novikombank offers efficient financial instruments for leading national enterprises and is a reliable partner in addressing challenges facing the Russian industry. Rostec corporation is among the largest shareholders of Novikombank.