Novikombank to sign EUR710m in financing agreements for aviation industry at MAKS 2019

Novikombank announced (26-Jul-2019) plans to sign RUB50 billion (EUR710.2 million) in aviation industry financing agreements at the International Aviation and Space Salon 2019 (MAKS 2019). The bank provided RUB116 billion (EUR1647.8 million) in financing to companies in the national aviation cluster in 1H2019 and issued guarantees covering more than RUB40 billion (EUR568.2 million). Management board chairman Elena Georgieva said the aviation industry is a key direction for the bank's shareholder Rostec Corporation and consequently a financing priority for Novikombank. Ms Georgieva added Rostec plans to grow the share of aviation cluster revenue to 50% or RUB1 trillion (EUR14.2 billion) by 2020. [more - original PR - Russian]