Sovcombank to acquire National Factoring Company.

Sovcombank, a large Russian private bank, agreed to acquire National Factoring Company, the most experienced factor in Russia. Financial terms were not disclosed. "We highly appreciate the acquired asset. NFC is a large factoring company with extensive experience, qualified personnel, unique technologies and competencies in working with an attractive segment of SMEs - an area that Sovcombank would like to strengthen," Sergei Khotimskiy, Sovcombank Deputy Chairman.