Rostec head Chemezov affirms financial stability of Novikombank

MOSCOW. March 10 (Interfax) - Rostec head Sergei Chemezov has affirmed financial stability of Novikombank, the primary bank of the state corporation.

"Let me say a few words about Novikombank. I have just spoken with Board Chairperson Yelena Georgiyeva. Rest assured that the bank is alright and financially stable," Chemezov said at a meeting with Rostec personnel. Interfax has obtained a video of the meeting.

"All of your money is safe. Large reserves have been formed. They exceed the amount of money in bank deposits. Don't you worry, all of your money is safe," Chemezov said, as he was speaking of Novikombank.

A number of countries have imposed sanctions on Novikombank. This is also one of the Russian banks the EU has ordered to be disconnected from the Society for Worldwide Interbank Financial Telecommunication (SWIFT).