VTB Factoring CEO, Anton Musatov, and the Association of Energy Service Companies (RAESCO) CEO, Irina Bulgakova, have signed a cooperation agreement to develop factoring in the sphere of energy services.
The VTB Factoring portfolio amounted to RUB 90.2 billion and assigned receivables to RUB 437.1 billion in 2016. VTB Factoring has been the leading company in the Russian factoring market for five years according to the Russian Association of Factoring Companies (AFC).
VTB Factoring is financing an industrial energy efficiency project at the Lavochkin Research and Production Association of the Roscosmos State Space Corporation. The project was planned and implemented by the Compulink group and is estimated at RUB 597 million.