AikBank awarded the first EBRD dinar factoring line

AikBank received approval for a factoring credit line in the amount of EUR 30 million from the European Bank for Reconstruction and Development (EBRD) within their Trade Facilitation Programme. This is the first time on the Serbian market that a credit line for factoring in dinars has been approved within the aforementioned program, which will enable stronger support for the economy through a wider selection of options for additional financing, without exposure to currency risk.

The approved funds are intended for the financing of factoring transactions, which enables corporate clients of AikBank to manage liquidity and cash flows, as well as additional opportunities for business development and improvement. Through cooperation with the EBRD, AikBank further expands the portfolio of financial products and services intended for the economy.

The new credit line will especially contribute to small and medium-sized enterprises, for whom this type of additional financing, which involves payment without waiting for payment from the customer, while the bank takes control of claims and manages collection, is a simple and effective solution for liquidity management.

The funds of the credit line will be placed within the new digital factoring platform AikBank, which improves the user experience and enables simpler, faster and more transparent use of services, with digital submission of requests, more efficient exchange of documents and monitoring of the status of transactions in real time. Through these improvements, AikBank once again confirms its commitment to the development of modern financial solutions that meet the needs of domestic companies.

The new credit line represents a significant step, not only for our bank, but also for the entire market, through improved opportunities for financing the economy, in local currency. We are proud of our successful cooperation with the European Bank for Reconstruction and Development, which enables us to further improve our offer and effectively support domestic companies. As the largest domestic private bank, we strive to support our clients through every phase of their business, to develop products and services that respond to their specific needs and continuously empower them.

Andrija Vuković, member of the Executive Board for business with corporate clients at AikBank

We are proud of this significant step in cooperation with AikBank. This is not only the first factoring transaction realized as part of our partnership, but also the first factoring transaction in domestic currency as part of the Trade Promotion Program in Serbia, which confirms the joint commitment to improvement and innovation when it comes to trade financing solutions and indicates the importance of partnership and cooperation in this area

Shona Tatchell, Director and Head of the EBRD's Trade Promotion Program

The Trade Facilitation Program (TFP) of the European Bank for Reconstruction and Development is one of the largest trade finance programs in emerging markets. Since its launch in 1999, it has supported trade transactions worth more than 40 billion euros and cooperates with more than 130 partner banks in different regions of the world.

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