NFC History

2009

NFC celebrated its ten-year anniversary - from 29 January 1999, the Factoring department, which consisted of 6 people, has grown to the size and status of an independent company with a banking license, specializing in services in the area of account receivables;
all company’s obligations had been fulfilled in full size and timely, including successful offer on 2nd ruble bond issues totaling $ 1,967,992 987.50 rubles including accrued coupon income;
2009 – is a client oriented year:
- first, changes were made in terms of the product "Factoring-Garant" aimed at creating more favorable conditions for using;
- secondly, a special offer price for the product "Factoring-Finance” was introduced for deliveries with a short open account terms;
- third, the special factoring product for retail companies "Supplier Finance" has been developed as an instrument to increase the loyalty of suppliers.

Coface, a subsidiary of Natixis, the French banking group, is extending its factoring network by joining forces with National Factoring Company. The agreement involves the servicing by NFC of Coface?s factoring clients in Russia and conversely the servicing by Coface of NFC?s clients outside Russia. Coface will also be a source of additional funding to NFC in order to accompany the rapid development of the Russian factoring market.
The launch of Purchase Order Finance. National Factoring Company became the first company in Russia to bring such a solution to the market.
Mikhail Treyvish, Chairman of the Board of Directors of NFC elected Chairman of International Factors Group, the first international association of factoring companies.
Roman Ogonkov, CEO, Chairman of NFC Management Board, rewarded the manager of the year in nomination «Best manager in factoring».

Factoring-Garant bulk sale the first factor in the market to undertake an audit of the risk management system with PricewaterhouseCoopers as the auditor in association with OFC «Uralsib-Factoring», NFC JSC introduces a new product, «Factoring-Express», designed specially for small business clients.

National Factoring Company closed a number of successful deals, which are important for the Company’s further development as a borrower in the capital markets, both domestic and international.

National Factoring Company Uralsib-NIKoil ( Limited Liability Company) was renamed to National Factoring Company (Limited Liability Company). Rebranding proved to be the next step in the implementation of the company’s long-term strategy.
Electronic Factoring, an electronic document interchange system, was launched which allowed the client to reduce the time between the invoice date and financing, as well as to reduce document delivery costs.

A product line Commercial factoring was introduced to Russian suppliers who work with the customers on deferred payment basis.
National Factoring Company Uralsib-NIKoil was admitted to Factors Chain International (FCI), the world’s largest factoring association and confirmed its status as a full-fledged member of IFG.

National Factoring Company Uralsib-NIKoil (Limited Liability Company) was created as the first specialized factoring company. New status permits to

focus on only factoring operations;
avoid competition between factoring and banking credit;
improve quality of factoring services constantly;
do away with everyday must to decide administrative questions concerning elimination conflict of interests between banking management;
guarantee service`s stability.

Operational Factoring Company NIKoil (OFC NIKoil), the first Russian network factoring company, was registered. The first six branches started operations.
The booming growth of business resulted in the Factoring Department being transformed into an independent Business Unit.

E-Factoring, an on-line factoring service system which ensures the clients’ access to all the necessary analytical information, was put into industrial operation.
Import Factoring, a new financial product, was implemented in Russia for the first time.
NIKoil IBG Bank, together with CenterCredit, а Kazakhstan-based bank, and Armenia-based Karo-Karen Factoring Company, established the East European Factoring Association (EEFA)**.

The first version of NIK Factor, an automation system for factoring operations, was put into operation.
The 100th domestic factoring agreement was signed, as well as the first export factoring agreement.

An order was signed to create a Factoring Department at NIKoil Investment Banking Group.
The first professional factoring website, www.factoring.ru, was launched in Russia.
The first factoring agreements were signed.
NIKoil Investment Banking Group joined International Factors Group*.