OREANDA-NEWS. May 18, 2012. NOMOS-BANK joined the leaders on Russia’s factoring market in 2011. A rating by the country’s leading rating agency, Expert RA, placed NOMOS in seventh place with a factoring portfolio worth RUB 6.543 billion on January 1, 2012, reported the press-centre of NOMOS-BANK.

NOMOS was in first place by rates of expansion of its factoring portfolio in 2011, according to Expert RA, with a growth rate of 349.7%. The volume of assigned claims grew by 265.5%, lifting NOMOS to 13th place in Russia.

An Expert RA specialist noted that factoring proved more attractive than the credit market in 2011 for both banks and for many bank customers. As a result the Russian factoring market grew by 1.8 times to a record level of RUB 880 billion.

“NOMOS-BANK Group increased its factoring portfolio more than fivefold in 2011, including a threefold increase in regions outside Moscow, thanks to high levels of professionalism, quality management, and an up-to-date product range,” said Sergei Kushpelev, the Head of Factoring Operations at NOMOS. “We plan further expansion of our factoring business in 2012 including market entry in new Russian regions, and we have designed new products, customer service technologies, and approaches to risk assessment for that purpose.”

NOMOS-BANK set up factoring sales infrastructure at eight regional branches in 2011, including Nizhny Novgorod, Rostov, Krasnodar, Tomsk, Kazan, Samara and Perm, and the Bank now has factoring operations in a total of 11 Russian regions. Factoring infrastructure will be installed at another five regional branches in 2012: Omsk, Ufa, Saratov, Tomsk and Chelyabinsk.