Austria

First Class Financial Group establishes receivables finance arm

First Class Capital to provide Sales Plan and Receivables Capital.

Raiffeisen to consolidate selected operations of its daughters, including Bank Factor

Raiffeisen is repositioning itself to reach EUR25 million of annual savings.

Three hundred creditors affected by insolvency of Austrian cheese maker

Insolvent cheese producer wants to continue to use factoring; banks yet to approve.

Young fraudster used factoring sham to ‘live in the lap of luxury’

Uncle and nephew go on trial under inducement of a factoring bank.

Factorbank AG Austria announce record turnover

FactorBank AG Austria, part of Unicredit and members of both factors Chain International and The International Factors Group have announced that the company had a turnover of EUR 4.6 bn.

New EU loan guarantee facility launched in Austria

A new European Union loan guarantee facility for innovative small and medium-sized enterprises (SMEs) was launched in Austria this week.

RaiffeisenLandesbank to renew factoring line for troubled Neckermann

Neckermann Austria will sustain operations, while in administration, thanks to a renewed factoring facility.

Intermarket Bank add new member to management board

Christian Ahlfeld has been appointed to the management board of Intermarket Bank, a factoring bank in Austria.

Intermarket Bank welcomes new factoring board member

Monika Traub, 44, has become the new member of the Management Board of Intermarket Bank, the leading factoring bank in Austria.

Intermarket chairman comments on Erste purchase

Erste Bank Group continued to extend its factoring focus in Central and Eastern Europe this week, announcing the acquisition of majority shares in two factoring companies in