Promsvyazbank (PSB) recently placed second among Russian factors based on a study of the Russian factoring market by the Association of Factoring Companies.
In the first nine months of this year the company's turnover was at 26 percent higher than the previous year at 287 billion rubles. In the study assessed that the market as a whole turned over 1205 billion rubles.
"During this year, the Association of Factoring Companies are joined by six new members," PSB Vice President and Managing Director of factoring Viktor Nosov said. "Nevertheless, we continue to hold their positions, performance PSB factoring grow faster than the market, despite the high level of competition among the players and the difficult economic situation in the country."
PSB has been in the market since 2002, providing complex, highly technical financial services to all types of factoring.