VTB Factoring’s performance in 2015 saw an unprecedented upswing in business in the Russian factoring market, with the size of its factoring portfolio reaching RUB 101 billion and turnover of assigned receivables increasing to RUB 441 billion by the end of 2015. According to the Association of Factoring Companies, VTB Factoring's market share was more than 30% at the end of 2015, confirming its clear leadership position in the Russian factoring market.
VTB Factoring CEO Anton Musatov commented: “2015 was difficult for both the Russian economy and for the national factoring industry. Despite this, the VTB Factoring team ended the year as the clear market leader. Moreover, this year was the most successful in the company’s history.”
In 2015 VTB Factoring identified as a priority new market niches for providing factoring: industry, energy, services and the public sector.
“Despite the difficult economy, our factoring portfolio achieved a record level of turnover, for the first time exceeding the RUB 100 billion threshold, with new deals accounting for a large part of the portfolio,” Mr Musatov said. “In December, we set a record in terms of one-time funding at RUB 17.7 billion on one particular day. The records we broke in 2015 were the result of years of hard work by one of the best teams in the factoring market. Our formula for success; a balanced approach to risk management, advanced IT solutions, a high level of customer service, underpinned by the constant support of VTB Group ensure we will remain market leader.”