The factoring divisions of French banking groups, Credit Agricole and Credit Lyonnais, have made considerably less progress in merging than their respective leasing units, according to Patrick Valroff, head of the group's specialist credit operations.
“The banks' factoring operations,” Mr Valroff said in an interview, “have made considerably less progress towards a merger, while that of their respective leasing companies should come into effect at the end of the month.”
When asked what the division's immediate priorities are, he cited the leasing merger, a further sharing of expertise and knowledge between Sofinco and Finalion, and the development of consumer credit services on an international level.
