A branch of the Russian bank Novikom opened in Cuba. This was reported on the bank’s website on June 20.
Novikom is a subsidiary bank of the Rostec State Corporation, which is part of the Russian-Cuban Intergovernmental Commission. In turn, this commission is the main platform on which the coordination of projects planned by the two states is carried out.
The representative office of Banco Novikom is the first representative office opened by a Russian bank in Cuba.
The Novikom press service informs that the main activity of the Cuban subsidiary will be “Financial support for the promotion of national industrial companies in the Republic.” and guarantee stable payments between Russia and Cuba.
It is clarified that the activities of the mentioned companies are related to industries such as aircraft manufacturing, engine manufacturing, automobile manufacturing, radio electronics industry, transportation and oil production.
Prensa Latina adds that the opening of the bank’s representative office is related to the consultation between Russia and Cuba, during which the parties exchanged opinions on the financial support mechanism in the industrial sector, recently approved by the members of the Economic Union. Eurasian (EEU).
Source: Rossa Primavera
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