The factoring business of Otkritie Bank Group has grown by 2 times by the end of 2021

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AK&M 14 January 2022 19:02

The volume of the Otkritie Factoring portfolio (part of the Otkritie Bank Group) reached 45.3 billion rubles. Over the past year, 794 clients have used the company's services. This is stated in the message of the group.

The group's factoring business is developing due to the interest of large companies in factoring as a method of settlement with suppliers and contractors, as well as the flexibility of Otkritie Factoring in developing individual solutions for customers. The development of its own platform-based IT solution has made it possible to simplify the access of suppliers, debtors and principals to effective working capital management tools.

Otkritie Bank is a universal credit and financial organization developing corporate and investment businesses, serving retail customers, small and medium-sized businesses, as well as providing private banking services. The sole shareholder of Otkritie Bank is the Bank of Russia with a 100% stake.