The Annual General Meeting of International Factors Group held in St-Petersburg on October 11-15.

The Northern capital of Russian Federation put up almost 100 chiefs and top-managers of leading companies involved in factoring, credit risk insurance and IT support of above mentioned ones. In particular there were Lloyds TSB Commercial Finance, Bibby Financial Services, Eurofactor, Garanti Factoring, Coface, IFITALIA, BNP Paribas Factor, Atradius and some others who head their country markets.

A number of the most important issues were discussed, including difficulties engender by crisis which industry faced, new possibilities, future considerations and although medium-term tasks. Also a new Chairman of IFG has been elected. Throughout last year Michail Treyvish, the Chairman of National Factoring Company Board of Directors held this rank. Chingiz Ukbasharan, Garanti Factoring CEO, became Mr. Treyvish successor. Garanti Factoring is a factoring division of Garanti Bank, the second largest private bank in Turkey.

IFG decided to hold its 2010 Annual General Meeting in Madrid, Spain.