Kommersant came up with the results of a research done on Russia’s factoring market opportunities in 2007. The magazine’s analysts report the Ural Bank for Reconstruction and Development was featured in their Russia’s Top 30 factoring market players list.

The magazine reports the total worth of debts yielded to the bank as a result of its factoring transactions amounted to 73,650,140,000 RUR last year, thus the bank got the 29th best position in the rating. The volume of finances provided by the Ural Bank for Reconstruction and Development to its customers reached 60 million RUR, which secured the bank the 28th position in the rating. Finally, the bank’s factoring transactions portfolio rose by 1,212.3% and came to 23 million RUR, thus giving the Ural Bank for Reconstruction and Development the 29th position in the rating.

The Ural Bank for Reconstruction and Development was one out of four Ural Federal District’s banks present in Russia’s Top 30 factors list.

Factoring is becoming a more and more popular way of business development for both manufacturers and trading firms as well as for the service sector. ‘Factoring allows them to develop and expand their business and get more floating capital with better turnover without having to worry about the collateral for their goods and products,’ says the bank’s Leasing and Factoring Services Director Yulia Vasilyeva.

The Ural Bank for Reconstruction and Development started dealing in factoring transactions at the end of 2006; today, the service enjoys great popularity with large, medium, and small enterprises alike.

Ural Bank for Reconstruction and Development edits SME loan criteria

The Ural Bank for Reconstruction and Development decided to introduce the new upper average monthly revenue limit for companies willing to take part in the bank’s lending programs for small and medium enterprises.

Starting June 25, 2008, SME lending program is available for businesses whose average monthly revenue comes to no more than 30 million RUR.

‘The idea of what small and medium enterprises are has acquired new meaning alongside with the changes brought about by the country and its regions’ economic development. Businesses are growing, and so do their turnovers and profits. So, now our loans with good terms for small and medium-scale businesses are available not only for smaller enterprises that have already used our programs, but also for companies with greater revenues,’ the bank’s press officer reports.