ArmswissBank is one of the leading banks providing factoring services in the Armenian banking system, at the same time, it is the only bank appearing to be a member of Factors Chain International (FCI, International Factoring Association) since 2008.

As ArmswissBank reports, the development of international factoring in cooperation with FCI has always been one of the key priorities of the bank.

This time, thanks to effective cooperation with TBC Bank, FCI and the EBRD, the bank for the first time came up with a new factoring solution to finance one of its best clients Yerevan Chocolate Factory CJSC import deal from Georgia.

With this product companies can benefit from the factoring financing scheme also in their import transactions, in particular, the importer has the opportunity to pay the seller with deferred payment term instead of making prepayment as the exporter is financed in its country immediately after the delivery.

The transaction parties representatives video is available here.

“We are convinced that such solutions have a great potential for sale and create new opportunities for the bank to promote the development of international factoring in Armenia,” the bank said in a statement.

In cooperation with the EBRD since 2010, the bank, in addition to commercial financing, has also achieved significant success in SME lending, GCF-GEFF Armenia energy efficiency programs and Global General Repo Agreement (GMRA), securities repo transactions in international financial markets. Cooperation with the EBRD is under continuous development. At present, the volume of cooperation in all directions is about $ 50 million.

ArmswissBank

As a dynamically developing financial institution, the bank operates in the field of corporate and investment banking services, offering both traditional and modern financial solutions adopted in the international banking system. The bank cooperates with a number of other international organizations, such as ADB, KFW, EIB, responsAbility, etc.

EBRD

The EBRD is a leading institutional investor in Armenia. To date, the bank has invested more than 1.51 billion euros in 189 projects in Armenia in the financial, corporate, infrastructure and energy sectors, with 88% of investments going to the private sector.