UK

The Board of Dynamic Commercial Finance PLC (DCF), one of the UK’s leading debt factoring businesses, has announced the resignation of Nigel Miller as finance director.

Eurofactor Wales is experiencing strong customer growth since opening its Welsh operation earlier this year. EuroFactor Wales is part of the Credit Lyonnais & Euler Hermer group.

London Scottish Bank Group says its factoring and leasing divisions have continued to progress during the second half. Whilst the market is competitive the factoring division has built a high quality business with a strong return on investment.

Despite being the first increase in almost four years, last week’s interest rate rise of 0.25 per cent to 3.75 per cent was given a cool reception by business organisations such as the Confederation of British Industry (CBI) and the British Chambe

Bibby’s purchase of the factoring arm of Abbey National is another step towards their goal of becoming the largest global provider of full factoring services, according to marketing director, Diane Blinkhorn.

Funding from Cattles Invoice Finance has enabled four Leeds-based entrepreneurs to set up their own sheet metal engineering business after the company they worked for, Metal Formers, went into administration.

Enterprise Finance Europe (UK) Ltd, a wholly owned subsidiary of Enterprise Finance Europe and part of the Bank of Ireland Group, has released its results for the year to 31 March 2003.

Abbey National plc (Abbey) has reached an agreement to sell its factoring business to the Bibby Financial Services Group. The deal is expected to complete on 1 December 2003.

The number of company insolvencies in England and Wales in the second quarter of 2003 has dropped by 11.2% on the previous quarter (from 3,825 to 3,398) and by 12.5% compared to a year ago (3,882), according to the latest statistics published by t

An Edinburgh businessman, Gerard Boyle, has raised Ј30 million to set up a new business banking group aimed purely at Scottish start-ups.