Russia

Eurocommerz has announced the formation of its Department for Capital Markets and Financial Institutions.

The Stavropol branch gives the full spectrum of bank services to the industrial enterprises, inhabitants of the Stavropol territory and adjoining republics of Northern Caucasus.

In May 2008 National Factoring Company launched a new product - purchase order finance.

Last year Gazprom assigned to Factoring-Finance, a subsidiary of Gazprominvestholding, the right to claim receivables from Mezhregiongas for RUB14.8bn for gas supplied in 2002-2004.

Business daily Vedomosti reports the possible acquisition of National Factoring Company (NFC) by Coface.

The annual factoring market survey conducted by Expert Rating Agency confirms the leadership and positive growth dynamics of Eurokommerz in terms of all key performance indicators.

RBC.Rating s experts have issued their ranking of Russia s most prominent factoring companies in 2007.

Promsvyazbank launched its factoring services in 2002 and now, according to RA Expert Survey the Bank is taking second place on the Russian factoring market.

Nomos Bank - one of the major players in Russian factoring - have just announced the launch of the management of an accounts receivable service.

Standard Poor's Ratings Services said today that it revised its outlook on Russian bank National Factoring Company (NFC) to positive from stable.