Russian Helicopters Holding and Novikombank signed a strategic partnership agreement on a 5-bln ruble loan, the holding said.

The bank will design financial instruments for Russian Helicopters and introduce modern management technologies to develop financial performance of the holding. It will also provide financial support to the sales and servicing of Ka-62, Ka-32, Ka-226, Ansat, Mi-171A2 and Mi-38 helicopters. (Picture source: Russian Helicopters )

The deal was inked at St. Petersburg International Economic Forum (SPIEF) by Russian Helicopters Deputy CEO for finance and investment Ervin Ilizirov and Novikombank board chair Yelena Georgiyeva.

The bank will design financial instruments for Russian Helicopters and introduce modern management technologies to develop financial performance of the holding. It will also provide financial support to the sales and servicing of Ka-62, Ka-32, Ka-226, Ansat, Mi-171A2 and Mi-38 helicopters.

"Novikombank has been our strategic financial partner for a long time. Its financial support helps the holding and its enterprises implement important civilian helicopter projects. The agreement stipulates that the bank will develop for Russian Helicopters financial instruments to support sales and after-sale maintenance of civilian helicopters. We are sure that together with the strong financial player we shall offer new effective and competitive financial instruments to potential customers in Russia and abroad," Ilizirov said.

"The support to key enterprises of domestic high-tech industries is a major guideline of Novikombank as the backbone bank of the Russian industry. The strategic agreement with the leader of domestic helicopter manufacturing is very important for us as it confirms the trust of the partner in the high level of services," Georgiyeva said.

Novikombank and Russian Helicopters have been cooperating since 2011 by several guidelines. The bank provides settlement, credit, investment and financial services. Novikombank established a 14-bln ruble limit on loans to Russian Helicopters.

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