Canbank Factors’ factoring package offers sales ledger administration, debt collection services, credit protection and advisory services. The total turnover of the company to March 2004 amounted to Rs8,845 crore.
Canbank Factors was promoted by Canara Bank in 1991. The company aims to reach a turnover of Rs2,000 crore during 2004-2005, of which Rs461 crore has already been achieved during the first quarter of the year.
The company has diversified and has begun export factoring and is looking to introduce import factoring to its service range.
Source: Asia Intelligence Wire
