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September
UK trade finance provider Bibby Financial Services has appointed a new business development manager for trade and international finance for the South East.
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August
Noa Factoring has declared bankruptcy prompting German regulator Bafin to close its Frankfurt-based parent Noa Bank.
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Turkey’s Garanti Factoring has reported 20% profit increase for the first half of 2010.
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July
UK trade finance provider Bibby Financial Services has signed an export factoring facility to Bruno Commodities, a UK-based importer and exporter of edible nuts and dried fruit.
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Places are still available for the 37th International Forfaiting Association’s annual general meeting and conference to be held in Berlin.
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The UK's Davenham Trade Finance has stopped writing new business and will wind down its loan book.
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June
London Forfaiting Company has expanded its team with three new staff members.
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There has been a growth in receivables-based financing in Europe according to a report released by Demica.
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Bancolombia Factoring and Bancolombia have sold an unproductive portfolio to Compania Reintegra.
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May
Romanian export credit agency, Eximbank of Romania, has agreed to offer its exporters credit for financing exports through trade receivables and invoices.
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European accounts receivable financier GE Capital has acquired RBS Factor, RBS’ factoring business in France.
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April
Chinese factoring firm Sinofactor has joined international factoring association International factors Group.
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March
CIT and Li& Fung’s US subsidiary have expanded their factoring relationship, substantially increasing CIT Trade Finance’s annual factored volume.
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UK invoice and asset based lender Venture Finance has arranged a factoring package for plumbing supplier Haines Distribution.
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Wells Fargo Bank has agreed to buy GMAC Commercial Finance Group’s North American factoring business.
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Financial services firm GE Capital has acquired Royal Bank of Scotland’s factoring and invoice financing business in Germany.
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UK factoring and invoice discounting firm Ultimate Finance Group has announced it will begin to offer trade finance.
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3i Infotech, a global provider of IT solutions, has upgraded its European factoring solution.
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Belgium’s Izola Bank is planning a bond issue this month to increase its factoring business.
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February
Garanti Factoring has reported a 42% increase in earnings over 2009.
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Venture Structured Finance has provided a receivables finance package, combined with a cash flow term loan, to fund James Caan’s acquisition of medical recruitment specialist DRC Group through a BIMBO deal.
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Bibby Financial Services, has provided a factoring facility to support a Canadian company that imports precision scales and weighing instruments from China.
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January
According to a survey of UK accountants, the invoice finance industry uses too much jargon and should drop terms such as factoring and invoice discounting in favour of simpler terms like cashflow finance.
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Barclays Capital has led a refinancing for factoring specialist Cabot Financial Europe.
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IBM has completed its first deal under a new factoring entity, IBM Factoring Company Limited, which will offer factoring to businesses operating China.
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Bibby Financial Services has provided a receivables-backed financing deal for a Canadian transport firm..
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Close Brothers Group has acquired the invoice financing loan book of UK firm GMAC Commercial Finance Limited.
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Thailand’s IFS Capital, a factoring and financing company has announced plans to raise funds through an initial public offering this year.
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Russian joint-venture factoring firm, FactorRus, has appointed a new CEO.