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PG Bank offers domestic factoring services

Hanoi, 30 September 2010Petrolimex Group Commercial JS Bank has officially opened factoring services in over the country (Decree No. 2196/QDD-NHNN dated 23th September 2010).

Factoring is a range of services provided by a bank factoring company to finance the delivery of goods. In factoring operations, the supplier assigns to PG Bank the rights of demand derived from contracts made with its buyers. PG Bank’s factoring services offer a comprehensive receivables and payables management solution which includes transaction financing, credit protection, sales ledger administration and payment collection.

Mr. Nguyen Quang Dinh - PG Bank CEO states that, this service will create increasingly competitive advantage for PG Bank to diversify both full services and service support to customers. This will be also a huge opportunity for PG Bank to focus on the development of factoring in the country, offering efficient and fast payment options to our clients.

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