FIMBank targets Romanian factoring market

15.10.2009

FIMBank plc, in collaboration with leading Romanian business newspaper Ziarul Financiar, organized a conference on the 6th October in Bucharest on “How to finance your business through factoring”.

The event was aimed at introducing the concept of factoring as a sustainable financial solution for businesses in this country. At the same time it also served as a platform to launch FIMBank’s presence in the Romanian factoring market, through its collaboration with local partner Romfactor.

Speakers at the conference included top factoring executives such as Erik Timmermans, General Secretary of International Factors Group, Çagatay Baydar, General Manager of TEB Factoring (BNP Paribas Group) and Vice-Chairman of Factors Chain International, Alessandro Bertoldo, Head of Unicredit’s Factoring International Department, Romfactor President Mr Dan Stoica and FIMBank President Margrith Lütschg Emmenegger. The conference, which was very well attended, attracted a cross-section of participants from the world of business, banking and the media in Romania. The questions directed at the speakers, and the discussion which developed during the event, reflect an increasing interest in factoring as a financial solution for businesses.

FIMBank President Ms Lütschg Emmenegger addressed the topic “How to finance your business though factoring”. During her presentation, she highlighted the fact that factoring is the world’s fastest growing trade finance product and consequently, factoring joint ventures remain a key pillar of the Bank’s strategy. The FIMBank President also elaborated on developments with regard to what she referred to as the “trade finance alliance” between the Bank and Romanian partner Romfactor.

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