HERE AND BEYOND
Ameriabank Strengthens Its Position in Trade Finance Arena as Market Leader in Factoring
Media Room

Ameriabank's performance during Q1 this year shows that the bank maintains steady growth rates in trade finance and factoring, in particular, strengthening its market leader position.

In Q1 2014, the total volume of receivables assigned to Ameriabank under factoring schemes saw a solid increase by 182% Y-o-Y to reach AMD 4.6 bn.

Early last year, Ameriabank joined Factors Chain International, a major global factoring network, thus creating for its clients unrivalled opportunities to network with partners from among more than 80 countries and to enter new markets.

This membership enables the bank to enhance the suite of its international factoring products, resulting in a 9-fold growth in international factoring transactions during 1 year. As of March 31 this year, 61% of the bank's factoring transactions fell upon international factoring transactions, with 39% of transactions falling upon domestic market. International factoring mainly involves export transactions which is a strong evidence of Ameriabank's commitment to promoting export and to boosting sales of Armenian products on the international markets.

Recently Factors Chain International has released a long-awaited report on international factoring market. According to the report, the global factoring industry achieved another milestone in 2013, generating over 3 bn USD in factoring volume, up by 10% from a year earlier. This indicates that there is an increasing demand for factoring services since factoring is perceived as the most efficient financing instrument enabling companies to increase their working capital under deferred payment scheme. Despite most flexible terms of factoring schemes offered by the bank, the bank continues to offer non-standard solutions and demonstrates an individual approach to each client while following best international practices.

Updated 07.05.2014, 11:45
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