The Director General of JSC "ROSSETI" - Oleg Budargin and the President of NOVIKOMBANK, JSC Bank - Ilya Gubin - signed a cooperation agreement.

The agreement is aimed at joined efforts of the parties in the development of areas of mutual cooperation, including the implementation of various types of banking products. The document provides for the possibility to render settlement and cash services, finance current operations and investment projects, including the use of leasing arrangements, bank guarantees and products of international business.

One of key areas of cooperation is an exchange of experience with single treasury organizations and introduction of best practices in this area.

The Head of JSC "ROSSETI" - Oleg Budargin - noted that this cooperation is aimed at the improvement of financial stability of power systems. "We are interested in attraction of long-term funding sources for infrastructure projects in the framework of power grids sector development and creation of conditions for economic growth of the country."

"Signing the cooperation agreement with one of the leaders of the Russian electric power industry is a landmark event for us, it is an important step for our Bank to develop the activities in support of a real sector. I am convinced that our cooperation will contribute to quality improvements in the power industry of Russia in a long term period," said the President of NOVIKOMBANK, JSC Bank - Ilya Gubin.