HERE AND BEYOND
Import and export financing via Ameriabank’s factoring tools
Media Room
Ameriabank goes on enhancing the scope of its factoring services by replenishing the stock of current services with new factoring facilities. This time the bank introduced international export and import factoring.

The key benefit of international factoring lies in the package solution it offers. Along with supplier financing it includes management of receivables and insurance against credit risk. International factoring has a number of advantages over traditional hedging tools which offer no solution to the problem of insufficient working capital among suppliers. Factoring enables not only to assure against the risk of the buyer’s non-payment, but also to receive financing prior the final settlement date.

Membership in a major global factoring network Factors Chain International (FCI) enables Ameriabank to enhance the footprint of its international factoring transactions and creates for its clients unrivalled opportunities to network with partners from among more than 80 countries and enter new markets.

‘International factoring market has a strong potential for expansion in Armenia, triggered by the growth of export volume and weight of Armenia in international trade. In 2012 export volume of Armenia experienced 7 % growth as compared with the previous year. FCI membership enables us to create new factoring facilities for our clients by enhancing the package of current factoring services. Today 268 banks and factoring companies from about 80 countries of the world are members of FCI making about 80 % of international factoring market share. FCI defines and implements international factoring standards as well as offers a number of competitive advantages to its members’ – said Anzhela Khachatryan, Head of Factoring Unit, Ameriabank CJSC.

Demand for factoring financing among clients experiences a considerable growth. Benefits of factoring, particularly direct financing of suppliers, collateral-free financing, flexible decision-making procedure for certain suppliers and buyers within the scope of factoring transaction contribute to the growth of demand in this type of financing.
As per Q1 2013 results volume of factoring transactions in terms of receivables assigned to the bank grew by 36% as compared with the same period of the previous year. According to 2012 results volume of receivables assigned to the bank experienced 3.7-fold growth as compared with the previous year, totaling about 7 billion Armenian drams. As per FCI statistical data, in 2012 volume of factoring transactions in international factoring market grew on average by 8 % and totaled about 2.8 trillion US dollars.
Ameriabank will commit to active development of international factoring by offering to its clients tailored and unique solutions. Eligible international factoring users will be companies engaged in external economic activities, including metallurgy, mechanical engineering, food industry, electronics, household appliances and production, import and export of other consumer goods.


 
Updated 20.05.2013, 10:28
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