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Monday, September 25, 2017

PSB again ranks first on AFC's factoring list

Promsvyazbank (PSB) said recently that it again ranked first in factoring in the medium-size enterprise (MSE) segment of a list by the Association of Factoring Companies (AFC).
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The report said the bank held 21 percent of the MSE factoring market, totaling approximately $6.2 billion.

The report estimates that MSE Russian factors are growing significantly as MSEs become a larger part of the global economy and the economy of the Russian Federation.

"Despite the challenging market conditions, we note a growing interest on the part of MSEs in factoring. For businesses operating on credit terms, in the current economic situation, factoring has become an indispensable instrument. In our opinion, in 2015, the factoring market in the MSE segment will grow, and the task of PSB -- not only to preserve, but also to increase its stake," Victor Nosov, vice president and managing director of factoring PSB said.

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Promsvyazbank - Russia

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