Franz Michel of Allgemeine Kredit Coface Finanze shares his views with BCR on the German market for factoring.
An interview with BCR’s overseas correspondent for central Europe
An interview with BCR’s overseas correspondent for central Europe
By Andrew Miles of Pricewaterhouse Coopers, Frankfurt
After a wave of consolidation, only three major sources provide private export credit insurance cover in Germany…
Allgemeine Kredit Coface Finanz (AKCF), the German subsidiary of French financial group Coface, is anticipating further growth in its business in Germany. In particular, the company hopes to achieve growth in its factoring business.
German bankruptcies hit a record high last year as the fragile state of Europe's largest economy and rising private borrowing led over 100,000 firms and individuals to ask courts to work out their debt problems.
Commerzbank will today announce it is buying Bavaria's loss-making SchmidtBank for between Ђ60m (US$75m) and Ђ70m, providing a glimmer of hope for the long-promised consolidation of Germany's fragmented banking sector.
ABS Global Factoring, the German factoring company, says that it is considering a flotation on the stock market. The company says that this is most likely to take place in 2005 or 2006.
Commerzbank is considering kicking off the long-awaited consolidation of the German banking market with an acquisition of regional bank Schmidtbank.
Many German dairy companies are expecting to be affected by the scandal involving Parmalat, the Italian food group. In particular, companies in the south of Germany are expected to be affected. These include Milchwerke Jager GmbH & Co.
The Centre for European Economic Research (ZEW) Indicator of Economic Sentiment, a monthly Financial Markets survey, shows the balance between positive and negative expectations regarding future economic activity in Germany within the next six mon