Otkritie Bank Group announced a twofold growth in factoring business by the end of 2021

Otkritie Bank 14 January 2022 17:42

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.

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.

Alexander Pestov, General Director of Otkritie Factoring:

"The result of 2021 is a record for Otkritie Factoring. This became possible thanks to the transformation of business processes, the expansion of the product line and the strengthening of the team. The implemented transactions allowed to increase the volume of financing in the telecommunications, oil industry and the real sector. In addition, we managed to offer innovative solutions for the largest marketplaces and logistics companies. In 2022, our team will continue to improve the technology of the business, improve the customer path and expand the product range."

Please note that this press release is based on materials provided by the company. AK&M Information Agency shall not be held liable for its contents, nor for the legal and other consequences of its publication.