BCR Latest News

Banks braced for impact of bad SME loans

Local banks are bracing for more trouble - namely defaults by small-and medium-sized companies (SMEs) - after getting burned by…


BankBoston to target SMEs

BankBoston Brasil will increase its focus on small- and medium-sized enterprises (SMEs) this year by opening 25 new SME-targeted business…


The ECB dithers, leaves rates on hold

What, exactly, is the European Central Bank (ECB) waiting for before it pulls the trigger? Yesterday's failure by the ECB…


2003 record breaking year for start-ups

According to Barclays' quarterly Start-ups and Closures report, 465,000 new companies were set up in 2003, the highest level since…


Coface acquires 100% of ORT SAS and its subsidiaries

Coface, a Natexis Banques Populaires subsidiary, today announced the acquisition of 100% ownership of the ORT SAS Company and its…


HSBC reports record year for new business

HSBC Invoice Finance (UK) Limited has reported profits before-tax of Ј59.69m for the year ending 31 December 2003, an increase…


Factor’s parent reports 2003 financial results

Raybor Management, Inc., a rapidly growing holding company, which includes factoring company Freedom Financial, announced financial results for the year…


Clough's Ј19m eludes receivers in Versailles case

Receivers for Versailles have recovered only Ј550,000 of the Ј19m fortune siphoned from the collapsed trade finance house by disgraced…


Key changes to indirect taxes in EU accession countries

Indirect-tax specialists from Ernst&Young have warned all multinational companies trading in the Accession Countries that, in the area of indirect…


GE Commercial Finance acquires IKON's US leasing operations – Canadian…

GE Commercial Finance, the business-to-business financial services unit of General Electric, announced yesterday that it has completed the acquisition of…


BDPME results show increased profit and reduced cost of risk

France's bank for SMEs, Banque du Developpement des Petites et Moyens Entreprises (BDPME), registered an 8.6 per cent rise in…


Ultimate Finance Group interim results – turnover up 336%

The Ultimate Finance Group has released its interim results1 for the six months ended 31 December 2003, which show a…


MTB takes out 10 billion euro loan for SMEs

Magyar Takarйkszцvetkezeti Bank Rt (MTB) signed a deal with Kreditanstalt fьr Wiederaufbau (KfW), the German development bank, to take out…


SIDBI to set up Growth Fund for SME sector

The Small Industries Development Bank of India (SIDBI) has decided to set up a ‘Growth Fund’ to provide risk capital/…


MNB cuts its benchmark interest rate

The National Bank of Hungary (MNB) unexpectedly cut its benchmark interest rate a quarter percentage point. The Monetary Council lowered…


Austria's Oberbank enters the Czech SME banking market

Austria's Oberbank will be the first bank to enter the Czech market after the country joins the European Union. The…


FDI inflow slows in January

The inflow of foreign direct investment (FDI) in Bulgaria for January 2004 totalled US$ 39.5 million (0.2 per cent of…


ECGD announces new procedures to combat bribery and corruption in…

Strengthened procedures to minimise the risk of bribery and corruption on business deals supported by the Export Credits Guarantee Department…


Price may cause Government to drop currency swap deal that…

The government said it may dump the proposed currency swap deal with the Asian Development Bank if the multilateral agency…


The international factoring industry is warned of the increasing danger…

The ‘Eternal City’ of Rome was the setting for Europe’s premier meeting of 120 top factoring and asset-based finance industry…


SMEs in line for free IT training

Thousands of small businesses could be entitled to free IT training following the expansion of a government-sponsored skills initiative announced…


Dynamic Commercial Finance preliminary results

Dynamic Commercial Finance plc (DCF) have released preliminary results for the year to 31 December 2003, reporting a first full…


GE Commercial Finance commits $30 million of debtor-in-possession financing

FiberMark Inc, a leading producer of specialty fibre-based materials, announced yesterday that it has filed voluntary petitions to reorganize under…


Credit scoring and factoring boosts lending to SMEs

New credit scoring techniques have paved the way for unsecured lending in the small- and medium-sized business (SME) sector, which…


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