OREANDA-NEWS. January 17, 2012. As part of its Regional Development Program, Novikombank continues expanding service coverage. In mid-December 2011, the opening ceremony of Novikombank's Togliatti branch was held.

“In 2011, Novikombank considerably expanded its branch network with the opening of offices in Rostov-on-Don, Nizhniy Novgorod, and Saint-Petersburg. However, the opening of the Togliatti branch is unique since other branches have been located only in regional centers”, pointed out Mikhail Dokuchaev, the Deputy CEO of the Bank, during the opening ceremony. “Novikombank maintains long-standing relations with the AVTOVAZ group of companies, their dealers and partners. Therefore, the opening of the Togliatti branch shall contribute to the expansion of partnership relations between the Bank and enterprises of the region.”

After only a short period in operation, the branch has raised private deposits of more than 300 mln.rubles and arranged to service more than 1000 corporate clients' employees as part of a payroll projects. Loans totaling approximately 500 mln.rubles were extended to industrial enterprises in the region; in particular, the branch has implemented a successful financing program for AVTOVAZ suppliers and participates in a lending program for SMEs.

“High potential for development in Togliatti was one of the key reasons in choosing this location for the opening of our new branch", said Igor Ostapenko, the head of the Togliatti branch, in his report. “Over just six months in operation, we established partnership relations with the biggest companies in the city and the region, including those closely related to OJSC “AVTOVAZ” such as “OAT” Holding, OJSC “AVTOVAZTRANS”, OJSC “TEK” etc.”

The opening ceremony was attended by Bank partners and clients. . Branch employees were congratulated by Dmitry Gritsenko, the Head of the Division of “AVTOVAZ” Group, Nikolay Lyachenkov, professor of the Samara Aerospace University, Arkady Krasnov, the General Director of "Togliatti Utility Company", Aleksey Vostrikov, the Head of the Department for External Economic Activities and Territorial Marketing of the Togliatti Mayor's Office, among others.