OTP Bank Serbia, ex Societe Generale Serbia, is the first factoring bank in Serbia for the fifth consecutive year. Representatives of the Bank discussed factoring at Regional Conference on Factoring in CEE and SEE in Belgrade, organized by the international association FCI (previously Factors Chain International Group). The conference was attended by over 120 bank representatives and factoring companies, as well as financial institutions from across Europe.
Former Societe Generale Bank with new colours and a new name – OTP Bank Serbia continues to cultivate the same values and the same factoring products. The strategy of the OTP Group, which the bank is a member of is to develop factoring in Serbia, having in mind its high level of expertise, its flexibility to meet market needs and its recognition by the current users.
“Since 2014, up to the half-yearly results from 2019 (according to the results of the Serbian Chamber of Commerce), the bank had the largest market share in Serbia. The total growth of factoring in the past year was 20 per cent higher than the previous year, and there is a growing interest of clients for international two-factor factoring, which in the same period recorded an increase of as much as 75 per cent,” said Rada Savic, Sales Manager, Transactional Banking, OTP Bank Serbia, as part of yesterday’s panel discussion.
Products and services tailored to the client’s needs are what OTP Bank Serbia pays special attention to. International factoring – fast collection of export receivables, with additional working capital without credit for exporters, is a product that the Bank was among the first to offer on the domestic market. In addition to financing, clients also receive an assigned claims insurance service.