On January 30, 2007, National Factoring Company Bank (Closed Joint-StockCompany) signed the agreement on the provision of loan by Raiffeisenbankin the amount of 200 million rubles. The loan was granted for 364 days.
This is the third loan granted by ZAO Raiffeisenbank to the NFC Bank(ZAO). The raised funds will be used to finance factoring transactions.
"The necessity of raising funds is the result of constant demand forfactoring services. Since September when we received the second loanfrom Raiffeisenbank the monthly turnover in terms of transactions forthe financing of deliveries with referred payment has increased by 1.5billion rubles and in December totaled 4.3 billion rubles", says MikhailTreyvish, Chairman of the Board of National Factoring Company Bank.
"The provision of a third loan to one of the leaders in the market offactoring services only confirms our confidence in the further growth ofthis segment. Raising of funds in this sector is a logical response tothe ever increasing number of factoring transactions", said JohannJonach, Chairman of the Board of Raiffeisenbank.
National Factoring Companyis the only company in Russia thatprovides its customers with a full range of services according to therules of the global factoring. The product line consists of managementof accounts receivable, risk coverage, mortgage-free financing offloating capital and informational and analytical support oftransactions.
ZAO Raiffeisenbank Austriais ranked 9th in terms of assets amongRussian banks based on Q3/2006 results (Interfax-CEA). At present, theBank has 21 branches in Moscow, 5 branches in St. Petersburg andregional branches in Yekaterinburg, Samara, Novosibirsk, Chelyabinsk,Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. In terms of thecorporate credit portfolio Raiffeisenbank ranks 9th based on Q3/2006results (Interfax-CEA).
ZAO Raiffeisenbank Austria is an affiliate of RaiffeisenInternazional Bank Holding AG (Raiffeisen Internazional), withsubsidiary banks and leasing companies in 16 CEE markets. The Bankserves 11.7 million customers at more than 2,775 business outlets, andalso has representative offices in Lithuania and Moldova. RaiffeisenInternational is a fully consolidated subsidiary of RaiffeisenZentralbank Osterreich AG (RZB), which owns 70 per cent of the commonstock. The remaining 30 per cent is free float; the shares are traded onthe Vienna Stock Exchange. RZB is a leading corporate and investmentbank in Austria and the central institution of the Austrian RaiffeisenBanking Group, the country''s largest banking organization.