Turonbank is now on the OZ PLANET digital platform

Turonbank is adding digital factoring to its product range. Thanks to the bank joining the OZ PLANET digital financial platform on 11 October 2024, factoring financing from Turonbank can now be obtained remotely.

One of Turonbank's strategic priorities is introducing new banking services. The bank seeks steady progress in the financial market by modernizing its management and technology processes, which is why it adopted digital factoring promptly.
By offering clients this financial tool, the bank gains more opportunities to expand its client geography and support companies in different industries.
Turonbank strives to help clients feel confident in the world of finance, and factoring is the right tool for this. Factoring serves the client's economic interest: immediate receipt of most of the payment for delivered goods/services, a guarantee of full debt repayment and lower costs of managing receivables. This helps prevent cash gaps, speeds up capital turnover, supports business expansion and improves competitiveness (by offering counterparties favorable payment terms), and therefore increases profit.
The OZ PLANET digital platform lets Turonbank clients get factoring financing much faster, more easily and more cost-effectively.

Alexander Bogdanov, director of OZ PLANET, comments: "Factoring is an effective tool for optimizing cash flows and increasing company profits. It ensures timely receipt of funds from buyers, speeds up revenue turnover and opens new horizons for business growth. Thanks to factoring, suppliers can improve their financial stability and strengthen their market position.
Banks provide factoring financing without collateral or proof of intended use, and relieve clients of managing their receivables. This financial tool is especially attractive for small and medium-sized businesses. And on the OZ PLANET digital platform, getting factoring financing is much faster and easier than the classic way."

Turonbank JSCB (TuronBank) has operated in Uzbekistan's financial market since 1990 and has 20 branches across the country. Its main activities are corporate banking, small business lending, retail services and securities market operations.
In 2024 S&P Global Ratings affirmed Turonbank's credit rating at "B/B" with a Stable outlook.
The bank focuses on directing its resources to promising growth sectors, increasing its participation in financing the real economy, growing and diversifying its client base, developing a competitive environment and improving the quality of banking services. The bank aims to become one of Uzbekistan's top 5 banks for the quality of its banking and financial services.