Partnership

Generally in Russia factoring was a subdivision in banking structures but in course of time taking into consideration common worldwide practice banks came forth factoring business in self-contained business unit. Such status permits to

• focus on only factoring operations;
• avoid competition between factoring and banking credit;
• implement specific risk management system directly affect factoring services quality;
• 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.

Furthermore factoring is not only financing and still further factoring financing is not a credit financing. Bank`s efforts to introduce factoring self-contained lead to inadequate service quality and specific risks bring to loss of money.

New trend on Russian factoring market is a partnership between bank and factoring company towards joint factoring market opening up.