Factoring group to acquire Eurofactor
Transfact, the factoring division of French banking group Credit Agricole, will incorporate sister company Eurofactor on 1 October, with the combined group taking on the latter's name.
CCF, the French bank, is to acquire the entirety of its factoring subsidiary Elysees Factor through the purchase of a 34 per cent stake from Eurofactor, a subsidiary of the banking group Credit Agricole.
The supervisory board of French bank Banque Sanpaolo is discussing the bank's strategy for the period between now and 2007.
On the face of it, there is little to suggest France is experiencing the surge in entrepreneurship that Europe needs to compete more effectively with the US and Asia in the coming years.
Euler Hermes, the French credit insurance company, has said that it expects its turnover to rise by 5 per cent this year.
BNP Paribas Factor, a subsidiary of BNP Paribas Group, has just been granted the ISO 9001 version 2000 certificate.
The main change in Group (Natexis Banques Populaires) structure compared with 2003 is Coface's acquisition of ORT, the French subsidiary company of Reuters, effective April 1, 2004.
French business sentiment improved markedly in December, according to a survey of around 450 small- and medium-sized companies by BNP Paribas Lease Group and Agence France-Presse.
The French CCF and the European Investment Bank, signed an agreement making available to CCF a credit line of EUR 100 million, intended for midcap (medium-sized) companies.
The French banking group Credit Agricole SA has finalised its acquisition of 49.09 per cent of French factoring company Eurofactor from the French credit insurer Euler Hermes.