OREANDA-NEWS. February 09, 2011. The factoring portfolio of NFC increased by two times year-on-year to RUB 6,7 billion. The pre-tax profit amounted to RUB 196 million which is 2,5 higher than in 2009, reported the press-centre of National Factoring Company.

NFC’s key business volume indicators demonstrated an upward trend: the company successfully coped with economic stagnation. The turnover increased by 8% to RUB 37, 72 billion, while the volume of financing amounted to RUB 26, 16 billion (+14%). NFC confirmed again its status of the leading Russian import factor, the amount of international business increasing by 63% to RUB 1,3 billion.

NFC’s strategy is aimed at further development of factoring infrastructure which allows to offer tailor-made solutions with high added value. In order to increase the level of service and to meet even the most sophisticated client requests the company conducted a special customer satisfaction survey. The goal is to best meet client’s expectation by offering an unique combination of services. As a result of further development of tailor-made solutions NFC was steadily increasing its customer base in the second half of 2010.

Non-recourse factoring grew by 14% to RUB 14,67 billion, its share in the overall turnover increasing from 38% to 40%. As a result of well-balanced risk appetite, the company managed to recover almost entirely the amount of bad debt which emerged during the crisis (2008-2009).

The Chairman of the Management Board of NFC, Mr. Roman Ogonkov commented: "Baring in mind that in 2010 the competition was mainly price driven (whereas the service component was often ignored) we can say that NFC, which position itself as a high added value service provider performed quite well. In 2011 we are going to develop further our product range in order to satisfy any company’s demands".