On May 27, JSC Rosoboronexport joined the shareholding structure of Novikombank acquiring 23.63% of the bank shares, Novikombank informed.
Besides, state-owned corporation Rostec (Rosoboronexport's parent company), increased its equity stake in the bank to 20.9% from 17.6%.
JSCB Novikombank (tax number: 7706196340) established in 1993 focuses on the financing of Russian industrial enterprises including the military-industrial complex and the automotive industry as well as high-tech industries.
JSC Rosoboronexport (tax number: 7718852163) is Russia's only state-owned exporter of the whole range of military and dual-use end products, technologies and services. Rosoboronexport's special status ensures guaranteed state support of all its operations. The company accounts for more than 80% of exports of armament, military machines and equipment from Russia. Through Rosoboronexport, Russia maintains military and technical cooperation with more than 70 countries of the world.