OREANDA-NEWS. August 1, 2011. On July 15, 2011, Novikombank Senior Vice Presidents Said Aminov and Anatoly Martynov attended a meeting wtih Radio Electronic Technologies holding, which was held at Kazan Optical Mechanical Works in Kazan. The meeting was held to discuss the company’s results, as well as the results of its subsidiaries, over 2010 and the first half of 2011. In particular, management and Novikombank representatives discussed the use of the Bank’s "Corporate settlement centre” service; in order to enhance efficiency in financial management and contribute to establishing a unified trading and purchasing system.

As of May 2011, Novikombank has been offering its "Corporate settlement centre” service to the company and its subsidiaries. The "Corporate settlement centre” service makes it possible to monitor and manage financial flows, control budgets, create management accounts and plan liquidity for all organisations utilising the service. In addition, the service suite allows its users to cut their costs of financing current activities of subsidiaries, state defence orders and handling export military and technical contracts. The "Corporate settlement centre” service also makes fund allocation more efficient throughout the company.

The success of the "Corporate settlement centre” service at Radio Electronic Technologies will encourage its further use throughout Russian Technologies State Corporation, as well as by other clients of strategic importance to the domestic economy.

Novikombank was established in 1993. At present, it is a stable and fast-growing financial institution offering clients the full range of banking services. The Bank’s priority business consists in financing Russian industrial organisations, particularly companies in the defence, automotive and high-tech industries. As of July 1, 2011, the Bank’s capital was RUR 7.5 billion and its assets were valued at RUR 73 billion.

The group headed by Radio Electronic Equipment was established in 2009 and is part of Russian Technologies State Corporation. Radio Electronic Equipment Group includes 60 companies developing and manufacturing radio electronic warfare technology, state identification and measurement equipment. The group’s sales totaled over RUR 14.4 billion in 2010.