Novikombank published financial statements for 2023

JSC JSCB NOVIKOMBANK, the core bank of the Rostec state corporation, published its financial statements (RAS) for 2023. The bank's assets as of January 1, 2024 amounted to 916.6 billion rubles, which is 13.3% more than the previous year. The loan portfolio grew by 8%, to RUB 816 billion. Profit amounted to 16.8 billion rubles.

The bank's net interest income for the year increased by 16.5%, to RUB 35.5 billion The volume of own funds increased by 12.7%, to RUB 93.1 billion. The largest part of the bank's resource base consists of customer funds. The volume of account balances for the year increased by 12.8% and amounted to 826.5 billion rubles.

In 2023, Novikombank provided financial and credit support to enterprises in such industries as aircraft manufacturing, mechanical engineering, automotive, shipbuilding, electronics, transport, oil production, etc. The bank also supports the implementation of programs to modernize industrial production, develop new technologies, and launch mass production of innovative products.

As part of a comprehensive program for the development of the aviation industry of the Russian Federation until 2030 and other aircraft manufacturing projects, the bank last year organized bond loan programs totaling RUB 585.4 billion.

Focus on Novikombank in 2023, projects were financed using government support measures. The total volume of transactions carried out by the bank in cooperation with development institutions of the VEB.RF group exceeded 100 billion rubles. In particular, the bank finances projects for the production of priority products within the framework of the cluster investment platform.

In 2023, the first transaction with digital financial assets for defense industry organizations and the Rostec state corporation was implemented, in which Novikombank acted as the organizer and key investor of the issue. This instrument was also used to finance small and medium-sized businesses.

Positive operating results allowed Novikombank to pay dividends to shareholders in the amount of RUB 4.9 billion in 2023. They are used to develop domestic industry and implement projects that are important for the country.

The effectiveness of Novikombank’s development model approved by the shareholder is confirmed by high ratings from leading Russian credit agencies. In 2023, the NRA assigned Novikombank a rating of AA|ru|, ACRA upgraded the rating to AA- (RU).

“Year after year, despite the challenges of the time, Novikombank consistently demonstrates positive performance results, working for the benefit of our clients, who form the basis of the Russian economy. With the participation of the bank, using key government support mechanisms, strategically important work is being carried out to achieve Russia's technological sovereignty. Novikombank is also actively developing a portfolio of profitable retail products with a social focus, which serves the priority task of supporting the human resources potential of Russian industry,” noted Elena Georgieva, Chairman of the Board of Novikombank, curator of the Voronezh branch of SoyuzMash of Russia.