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Bank of America Sees Growth in Non-Performing Loans

In the July-September 2000 quarter Bank of America, the second largest US financial services company, whose interests include factoring, recorded its non-performing loans at $4.4 bn, an increase of 45% over the $3 bn of July-September 1999. The bank reports...

Worldcatch Brings Factoring to the Seafood Market

The leading online marketplace for the global seafood industry, Worldcatch has today launched a factoring service offering sellers of seafood…


CIT Group Records 58% Net Income Growth in January-September...

The CIT Group Inc (which offers a range of financial services including factoring, structured financing, equipment, commercial and consumer financing…


KBK Capital Corporation Records Sharp Growth in Net Income

KBK Capital Corporation of Fort Worth, Texas (which provides commercial loans, mezzanine loans and factoring to middle-market businesses) has reported…

#banks#CIT#economy


Sterling Bancorp Announces Third Quarter Figures

The banking and financial services company Sterling Bancorp has today announced its results for the third quarter of 2000. Net…


Grupo Financiero Santander Mexicano Report Third Quarter Results as...

The finance group Santander Mexicano has today announced a net income of P$677 million for the third quarter of 2000,…

#insurance


Accord Financial Corp. Enjoying Record Activity

Ken Hitzig CEO Accord Financial Corp. has reported record activity in one of its wholly owned subsidiaries JTA Factors Inc.,…

#Accord Financial#Accord Financial Corp#cloud


CIT Forms Strategic Alliance with Ftadirect.com

CIT Commercial Services has announced a strategic alliance with FTADirect, a leading online business-to-business marketplace for the textiles and finished…

#CIT#CIT Commercial Services#credit protection


GMAC Joins Global Financing Network

GMAC has joined the eCredit.com Global Financing Network as a financing partner. The Global Financing Network connects businesses to global…


Client of Presidential Financing Pleads Guilty to Wire Fraud

Lawrence Rosenzweig of the Barridon Corporation has pleaded guilty today in a federal court to the charge of “wire fraud”,…


Finatra acquires Premium Asset Recovery Inc.

Finatra Captial Inc has announced plans to buy Premium Asset Recovery Inc. a factoring company specialising in the collection of…

#acquisition#WHO


Heller announces new General Counsel

Heller Financial Inc. has today appointed Mark Ohringer to General Counsel effective immediately. Ohringer joined Heller’s legal department in 1993…

OFEK Forms New Factoring Company

OFEK Capital Corp has announced the formation of a new American factoring company to be known as AFC, and will…

#e-commerce

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