Fortis Aim for Profit in 2001 as they launch Open Cross Border Services


The annual accounts for Fortis Commercial Finance Limited, the factoring company formed in July 2000 by integrating FMN Financial with the Fortis Bank Invoice Discounting division of Fortis Bank UK, have been released for the year ended December 31, 2000. Turnover has risen by 6.3% in 2000 to Ј6.9mil from the 1999 figure of Ј6.5mil. In both years a loss before tax was recorded.

While 1999 and 2000 was impaired by client losses, Nirmala West, Financial Controller at Fortis Commercial Finance, is optimistic regarding results going forward with full year profits budgeted for years 2002 through to 2004.



All news and features older than 7 days are subscription only. This article is from the archive. Archived articles could only be accessed with the subscription. If you are a subscriber please log in, alternatively you need to purchase a subscription to view the full content for this page.