The National Bank of Ukraine (NBU) has reportedly formulated regulations on factoring activities by commercial banks. According to Andrey Kiyak, the head of the NBU’s development for banking sector department, the preparation of regulations reflects the strong interest of banks in factoring operations.
The volume of these operations is still tiny, and Mr Kiyak says that factoring will not be able to replace financial leasing in the short term. Even so, since the beginning of the year the volume of factoring services has increased by 73%.
Source: Business Eastern Europe
