Chilean bank Banco del Desarrollo is considering the acquisition of a factoring agency aimed at complementing its services to the small enterprise segment, according to Desarrollo chairman Vicente Caruz.
Negotiations are already in the advanced stages to buy a factoring unit, Caruz said, adding the acquisition would allow Desarrollo to offer a valuable new service to local small businesses. Following a recent shareholders meeting, Caruz informed local press that the final price tag is likely to fall between US$2.5 and US$3 million.
Desarrollo CEO, Hugo Trivelli, recently said that the bank was still considering whether to establish its own factoring subsidiary or purchase a unit already operating in the segment.
Until recently banks were not permitted to have subsidiaries offering factoring services but now that the law has changed Desarrollo is seriously contemplating an entry into this segment, Caruz added.
