Russia

In the rating by the country's leading Rating Agency, Expert RA, Nomos bank takes the seventh position in terms of the size its factoring portfolio.

The new requirements for calculating capital adequacy at Russian banks, developed by the Central Bank, will reduce the competitiveness of Russian lenders compared to their foreign rivals working in Russia, according to Sberbank strategy director Dmitry Tarasov.

Trade and services handled by the Russian factoring industry nearly doubled in 2011.

BCR Factorscan met with Mikhail Yakunin, General Director of VTB Factoring to ask him for his views on this growth and the potential for further growth in the next few years.

The financial services provider, OJSC JSCB International Financial Club (IFC Bank), in cooperation with the National Factoring Company, has begun to offer its clients factoring services.

As Russia integrates into the World Trade Organisation, Factoring can play a vital role for both importers and exporters says Dmitry Shevchenko of the Russian Association of Factoring Companies (AFC).

But Russian Factors aren't operating on a level playing field and Senior members of the Russian factoring industry give their views on the hurdles that still need to be overcome

Market share of VTB Factoring Ltd. grows to 22 per cent, according to the results of Factoring Market Research by Expert RA.

In 2011 Russian factoring turnover grew 82 per cent, year on year, the Association of Factoring Companies reports.

NFC Group funds out increases more then 75 per cent in 2011, while turnover of factoring without recourse more then doubled.

Bank National Factoring Company (NFC), has announced that in the Q4 2011 its net profit dropped by 76.12 per cent Q on Q.

Promsvyazbank (PSB) consolidated its position as international factoring leader in the Russian market in the second half of 2011, according to a recent report.