OREANDA-NEWS. August 01, 2013. Over the period Alfa Bank’s factoring turnover grew to 97.7 bn rubles, compared to the last year similar period it increased by 40%, being well above the market growth rate. Factoring portfolio against the last year period grew by 82% to 24.5 bn rubles.

Alfa Bank has been in the factoring market since 2008 providing comprehensive high-tech services to its customers. The Bank is one the leaders in the factoring market ranked among three largest market players in terms of its portfolio size, assigned receivables and paid financing. Since 2013, the Bank has been among just few Russian banks to join Factors Chain International (FCI).

According to estimation of Alfa Bank’s experts key drivers in the factoring market over the next year will be the generation of original, tailored product solutions for high-profile customers, implementation of electronic document flow, and legislative regulation in government procurements and contracts. Banks and factoring companies foresee huge market growth potential in the development of reverse factoring.

"Demand for factoring in the coming year will be picking up. We see growing interest in a fill-fledged factoring servicing of the customers who before knew nothing of this product business potential, — says Leonid Kultygin, Factoring Managing Director at Alfa Bank. — In our work we draw on global expertise, offer broad product range and continue enhancing our services and quality level seeing it a major competitive edge of Alfa Bank".