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Follow on Google News | FIMBank’s global factoring network CEOs meet in MaltaMalta-based Trade Finance specialist FIMBank recently brought together the CEOs of all its international factoring JV to discuss corporate strategy and opportunities for growth within the context of the current global economic and financial scenario.
Commenting on the theme of this first Group Network Meeting, FIMBank President Margrith Lütschg-Emmenegger stated that “the current crisis has brought about more awareness about Factoring and the product’s ability to finance domestic and international trade while mitigating risks. Specialist banks and Factoring houses are taking advantage of this increased interest in Factoring by promoting the importance of this alternative financial solution and its advantages for both domestic and export-oriented businesses.” She explained that many businesses are starting to factor their invoices to pay bills, take advantage of early payment discounts, increase sales, and last but not least, to fund their business’ growth. “Prior to the crisis, Factoring services, particularly in Europe, tended to be more focused on the finance aspect. The reality is that more customers are now viewing Factoring from a different perspective. They see the service as offering a potential means of managing risks and providing cash management solutions, over and above the funding aspect. This trend is growing, particularly for exports from emerging markets to the more developed ones.” For further information about the FIMBank group please visit www.fimbank.com. # # # Media Consulta is a leading independent PR and advertising agency in Europe and a market leader in the areas of corporate communication, youth marketing and political communication. End
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