OREANDA-NEWS. September 16, 2013. SME Bank (Vnesheconombank group) and Association of Factoring Companies (AFC) have concluded a Cooperation agreement on SME support.

The agreement was signed by Sergey Krjukov, SME Bank’s CEO and Dmitry Shevchenko, AFC Executive Director.

According to the bank’s Analytical Center the targeted market share of SME Bank in factoring is 10%. In this area SME Bank cooperates with 12 partners operating in 54 regions of Russia. Moscow and the Moscow Region, St. Petersburg, the Sverdlovsk, Novosibirsk and Chelyabinsk Regions dominate the regional structure.

Since the launch of factoring support products in 2009 SME Bank has concluded 61 factoring agreements for a total amount of RUB 22.5 bln providing financing to almost 2000 enterprises.