CBM develops international factoring in Kazakhstani market
CBM is to provide up to USD 13 mln of financing to Kazakhstani AsiaDistillery by way of import factoring. This product allows AsiaDistillery to get financing upon shipment, and its Russian buyer to pay later. To consummate this transaction, CBM has established a limit for the Russian importer.
"By using the single-factor model without involving any additional banks, CBM provided the customer with the quickest and optimally priced solution, – comments Natalia Bahova, head of CBM's Documentary and International Business Product Sales Division. – the Bank offers its customers several factoring options: single-factor or two-factor models with FCI members, foreign banks' guarantees, and receivables insurance. We see customers' demand for international factoring products, including export factoring. Exporters want to cover the risk of losing export revenues and to get financing that is not treated as borrowings. Customers request us to finance projects in various parts of the world, including the CIS, Asia, and Europe"