26.05.10. ITERA Oil & Gas and Novikombank Successfully Strengthening Partnership
Novikombank President Ilya Gubin and Igor Makeev, head of ITERA Group jf companies have signed a Strategic Cooperation Plan for 2010-2014, aimed at furthering the two companies' long-term partnership. The Plan represents an important step in expanding cooperation between the Bank and the oil & gas company as part of the existing Cooperation Agreement.
As the Strategic Cooperation Plan is put into effect, there will be more reasons for Novikombank to gradually increase its share in servicing ITERA' Group companies. Specifically, the Bank is to play a larger role in servicing ITERA's internal and international payments, treasury operations and financial-management optimization. The Bank plans to significantly increase the financing services it offers to ITERA companies, in particular in areas of international operations as well as the organisation of regional co-operation.
Ilya Gubin noted: “The Plan sets out important mechanisms for our joint future activity, aimed at creating a new model of effective cooperation between the Bank and its clients – one based on customised solutions and the continuation of our successful relationship. Thus, the signing of the Strategic Co-operation Plan with ITERA (one of our major clients) – and, potentially, with other key partners of the Bank – will be instrumental in making the core goal of Novikombank's Development Strategy for 2010-2014 a reality: reaching new, higher levels of cooperation with Russia's leading manufacturers.”
Vladimir Makeev pointed out that: “putting this Plan into action will raise the company's productivity. ITERA will be able to make use of the Bank's resources in terms of investment operations: long-term and syndicated lending, originating deals in Russian as well as international capital markets, consulting, originating and supporting M&A transactions. An important avenue for developing our joint activities will be increased retail services, including the full spectrum of services for ITERA's employees as well as the bank's participation in insurance and retirement products for ITERA and its companies.”
For information purposes:
Novikombank was established in 1993. Today, it is a solid, rapidly growing financial institution offering a comprehensive range of banking services to its customers. The provision of finance to Russian industrial companies, including heavy-machinery, the automotive industry and technology-intensive manufacturers is among the Bank’s priorities. As of 1 April 2010, the Bank’s capital amounts to 5,9 billion roubles, with net assets of 42 billion roubles.
ITERA Oil & Gas Company is one of the leading independent producers and suppliers of natural gas. The company aims to grow a vertically-integrated business: from extraction of hydrocarbon products to outputting finished products. Jointly with Gazprom, the company is developing gas deposits in Yamal and the Irkutsk Region. ITERA is the major supplier of gas in the Sverdlovsk Region.
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| Press-service Novikombank tel.: (+7 495) 974-71-87, äîá. 560 fax : (+7 499) 238-08-89 e-mail: info@novikom.ru www.novikom.ru |
Press-service Itera tel.: (495) 411-86-31 fax: (495) 411-85-02 e-mail: pr@itera.ru www.itera.ru |
