Sovcombank Factoring

Sovcombank Factoring LLC (formerly National Factoring Company Bank, NFC) is the operator of the Russian factoring market.

History

2021

Renaming to Sovcombank Factoring

In November 2021, the NFC company announced its renaming to Sovcombank Factoring LLC.

Sovcombank agreed to buy the company from NIKoil Lyudmila Kogan

Hollow company NFC in March 2021.

In May 2021, Sovcombank agreed to buy the NFC factoring group from NIKoil financial corporation (FC) Lyudmila Kogan, the widow of entrepreneur Vladimir Kogan. A binding agreement has been signed between the parties. The assets were taken for reorganization together with Uralsib Bank, but now they are being sold off.

The parties do not disclose the cost and other financial parameters of the purchase. Closing of the transaction is expected immediately after receiving approval from the FAS and the Bank of Russia.

"We appreciate the asset being acquired. NFC is a large factoring company, with extensive experience, qualified personnel, with technologies and competencies in working with the SME segment that is attractive to us - a direction that Sovcombank would like to strengthen. We also believe that the NFC will be a qualitative addition to our corporate business, another source of income diversification and strengthening of competitive advantages. In addition, we see significant synergies in this transaction with our Halva National Installment System, which involves about 25% of the Russian retail market, one of the main consumers of factoring services, "said Sergey Khotimsky, co-owner and first deputy chairman of the board of Sovcombank.[1]Company

Notes