On October 27th the Central Bank of Russia approved the increase in the share capital of the National Factoring Company Uralsib-NIKoil from 456 to 1,456 million roubles, roughly equivalent to US$50m.
NFC Uralsib-NIKoil continues to increase its financial strength and is the largest provider of factoring in Russia.
The company possesses a banking license which puts it under the tight control of the Central Bank of Russia; thus ensuring it meets and exceeds capital adequacy requirements to provide the quality of service clients demand.
NFC Uralsib-NIKoil is a company of URALSIB Financial Corporation, one of the leading Russian financial conglomerates, working in the areas of investment, commercial and private banking, factoring and insurance.
The assets of the Group amount to US$7.3bn.
Source: BCR
