Erik Timmermans of IFB presents the latest analysis of the Belgian market
Market Trends in 1999 and 2000 Belgian factoring experienced a significant year in 1999, as the number of factoring companies decreased from seven to four as a result of different bank mergers. After the merger of Kredietbank, CERA Bank and ABB Insurers into KBC Bank and Insurance, CERA-Factors was integrated into IFB-International Factors, a 50-50 joint venture between KBC and BBL (which belongs to ING). The new IFB is not only active as a factoring company, but offers a full range of consultancy services in credit management. Depending on the specific needs of the client, IFB will offer its own factoring services or will act as a professional broker advising on credit insurance, commercial information or collection agencies. Also in 1999 the Belgian-Dutch financial group Fortis was formed.
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