Net profit generated by factoring company Eurokommerz in January-June 2008 amounted to Rub 2.44 bln, quadrupling against the same period a year ago (Rub 647.77 mln), the lending institution said in a press release.
The company’s aggregate assets jumped 33.2% to Rub 46.21 bln in H108 against December 31, 2007. Aggregate factoring advances grew from Rub 27.82 bln to Rub 36.02 bln. Furthermore, balances held on accounts rose from Rub 1.75 bln to Rub 6.90 bln. Eurokommerz’s aggregate debt portfolio climbed by Rub 8.27 bln to Rub 33.94 bln.
Eurokommerz operates in the corporate lending segment and ranks among Russia’s largest factoring businesses. Eurokommerz’s strategic target is to gain leadership in the corporate financing sector in Russia, FSU and on other developing markets.
