Italy

Italian factors, who contribute 10 per cent of GDP growth, say Basel III regulations are not appropriate for factoring.

Milan-based UniCredit Factoring has closed the first nine months of 2011 with a net profit of 28.2 million. Revenues totalled €108.7 million, while costs were 25.2 million (+18 per cent).

As part of its ongoing efforts to optimise working capital, Italian-based Pasell S.R.L. has implemented the Supply Chain Finance (SCF) programme offered by its customer, a global home appliance manufacturer.

Diego Tavecchia of the Italian factoring association, Assifact, has provided Factorscan with a summary of the association s latest factoring results.

Assifact: share of bad debts connected to factoring is less then half of that of commercial banks

The Italian factoring market grew 9.8 per cent in the second quarter this year, lower than the 15.25 per cent growth forecasted by Assifact.

EIB lends Finlombarda EUR 200 million for Lombardy s small businesses

SPACE factoring launches Reverse Factoring Public Administration in cooperation with Italian Post Office

In the first quarter of 2011th cumulative factoring turnover of the 32 members of the Italian Factoring Association (ASSIFACT) grew by 31.79 per cent over the first quarter of 2010, the Association reports in its circular.