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 surged to the top in 2011, its third year of operation. For the last five years, including 2016’s performance, we have remained the unquestionable leader in the Russian factoring market," said VTB Factoring CEO Anton Musatov.
"Last year, we strengthened the foundation of our success by launching several unique products, implementing several partner programmes, and expanding our digital factoring services. This year we will continue to focus on new areas of operation, such as long-term factoring services for energy efficient companies and government factoring. We will also carry on our digitalisation programme. We have developed a new vision of factoring and are expanding the spheres of its application as part of VTB Group’s development and leadership strategy in the Russian factoring market."
VTB Factoring is a 100% subsidiary of VTB Bank (PJSC). It entered the factoring market in 2009 and is currently active in 17 large cities across Russia. It also offers factoring services through VTB Bank branches. VTB Factoring is a member of Factors Chain International (FCI) and the Russian Association of Factoring Companies.