Factoring for ceded liabilities rose by 36% in Ameriabank in Q1
02.05.2013,
14:02
Armeriabank’s factoring transactions on liabilities ceded to the bank grew by 36% in the first quarter against Q1 2012 (3.7-fold as compared to 2011) and totaled around 7 billion drams, the bank’s press office reported.
YEREVAN, May 2. /ARKA/. Armeriabank’s factoring transactions on liabilities ceded to the bank grew by 36% in the first quarter against Q1 2012 (3.7-fold as compared to 2011) and totaled around 7 billion drams, the bank’s press office reported.
Ameriabank is offering new types of factoring to its clients, international export and import factoring in particular, according to the report. The main advantage of international factoring is package solutions that include servicing of accounts receivables and lending risk insurance.
Ameriabank is a member of major Factors Chain International (FCI), which allows the bank expanding its factoring services through new partners in over 80 countries.
Head of factoring department of the bank Angela Khachatryan said that international factoring is a promising market in Armenia as exports continue growing and demand for factoring is rising in the country.
Among other advantages of factoring are direct financing, loans with no pledges required, flexible decision-making procedures, and etc.
According to FCI data, factoring deals rose by 8% to about $2.8 trillion in the global market in 2012.
“Ameriabank will continue its active efforts to expand international factoring and will offer its clients individual and non-standard solutions, according to the report.
Any economic entity including manufacturers, importers and exporters of metallurgy, machine-building and food industries, electronics and other products can take the advantage of the bank’s factoring services, says the report.
Ameriabank closed joint stock company is a universal bank offering investment, corporate and retail banking services in a complex solution package. Ameriabank has been the first investment bank in Armenia. It has been providing a wide range of innovative banking services since 2007–0--
