Russian central bank decision on refinance rate
The Russian Central Bank is reducing its refinance rate from 14 per cent to 13 per cent from 15 June.
The Russian Central Bank is reducing its refinance rate from 14 per cent to 13 per cent from 15 June.
The Association of Russian Banks and Coface are joining forces to provide small- and medium-sized Russian companies (SMEs) with a rating system that will facilitate their access to bank credit.
Nikoil Financial Corporation president Nikolai Tsvetkov said IBG Nikoil turnover on factoring operations topped $380 million last year.
Consolidation among Russia's biggest banking institutions is starting to take place as bankers realise that organic expansion will not provide fast enough growth, particularly in the retail sector.
"Dangerous tendencies" have been detected in the way the Russian economy is developing which demonstrate "numerous problems in providing for economic growth and macroeconomic indicators", Prime Minister Mikhail Fradkov said on Friday at a meeting
Russia’s first independent professional factoring company has entered the market.
The European Bank for Reconstruction and Development (EBRD) plans to increase loans to small business in Russia to US$2 billion toward the end of 2004, according to the EBRD coordinator for small business support in Russia.
Russia's small businesses need nearly a trillion rubles of financial resources, Yevgeny Primakov, president of the Russian Chamber of Commerce and Industry, said at the 5th Conference of representatives of Russia's small business community.
The European Bank for Reconstruction and Development (EBRD) will put US$15 million into a project to develop the leasing of Japanese construction and mining equipment in Russia.
A newly named star appears in the night sky with the name ‘Factoring’, according to Mikhail Treyvish, chairman of the NIKoil-Uralsib group of companies.