Hanoi, 30 September 2010 – Petrolimex 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.