|
The annual accounts for the year ended 31 December 2001 show that Bibby Financial Services Limited has enjoyed another year of sustained growth. Turnover rose by 15.3% from the 2000 figure of Ј29.367m to Ј33.875m. Profit before tax rose by 12% to Ј11.208m, which compares with the 2000 figure of Ј10.007m.
01/05/2002
|
|
Lawson Dodd has been appointed to handle the PR. for Fortis Commercial Finance Limited. The finance company is part of the international Fortis Group and one of the leading invoice finance providers in the UK and Europe
Fortis Commercial Finance is also a member of the Factors & Discounters Association (FDA), and provides not only domestic facilities but also cross border services specifically designed to assist exporters and businesses with operational bases in more than one country.
BCR
01/05/2002
|
|
Having failed to find a suitable buyer, Tyco International Ltd., intends to sell 100% of CIT Group, in an initial public offering.
CIT Group is parent to CIT Commercial Services, the United States’ largest provider of factoring and related services. The company is a leading, global source of financing and leasing capital and an advisor for companies in more than 30 industries.
30/04/2002
|
|
29 April 2002: American Community Bancshares Inc. Announces Results for Latest Quarter
American Community Bancshares Inc., the holding company for American Community Bank, reported sharply higher results for the quarter ended 31 March 2002 as compared to the period a year ago.
29/04/2002
|
|
The French credit-insurance company Euler &Hermes saw its turnover fall by 1.7 per cent like-for-like, to ?298million euros, in the first quarter of 2002. The insurer, which belongs to the Franco-German insurance group AGF-Allianz, attributes this drop in earnings mainly to a 21.9 per cent slump in its factoring activities.
29/04/2002
|
|
CIT Group Inc., a subsidiary of Tyco International Ltd. and parent of CIT Commercial Services, today announced second fiscal quarter 2002 net income of $157.3 million, compared to$160.1 million in the corresponding period of 2001.
26/04/2002
|
|
It has been reported on the business news service, Zephus.com, that Nedcor Bank Ltd is to buy BOE Ltd in a 7300 million South African Rand deal. This will be a 100% acquisition.
Nedcor, parent company to Nedliberate factors, made its offer on Monday after weeks of speculation that they wanted to acquire the Cape-based bank.
However, the takeover is not imminent. It will not be until at least July, once shareholders have been consulted and the various regulatory processes have been completed, that the deal will be officially concluded.
25/04/2002
|
|
The Chailease Finance Cooperation, Taiwan’s market leader in international factoring, today announced they are relocating to new premises.
From 29 April 2002 the company’s address will be:
2F, No.89,
Sec 5, Nan-King East Road,
105 Taipei, R.O.C.,
and their new telephone number will be, +886-2-2528 6988.
BCR
25/04/2002
|
|
Fitch, the international rating agency, has affirmed Banco Santiago's (Santiago) foreign currency short-term 'F2', long-term 'A-' (Outlook Stable), local currency short-term 'F1', long-term 'A+', Individual 'B' and Support '2' ratings. Banco Santander Chile's (BSC) ratings have also been affirmed at foreign currency short-term 'F2', long-term 'A-' (Outlook Stable), local currency short-term 'F1', long-term 'A+', Individual 'B' and Support '3'.
23/04/2002
|
|
Union Planters, the 28th largest bank holding company in the United States, with assets in excess of US$30 billion, today reported an 18% increase to US$125.9 million in earnings for the first quarter of 2002.
Capital Factors is part of the Union Planters Bank Group and one of the top ten factoring companies in the United States. It offers a broad range of services including protection against bad debt losses, collection of accounts and cash management services.
Source: BCR
23/04/2002
|
|
The Fort Worth, Texas, based KBK Capital Corporation, which provides business credit to middle-market companies, has reported its operating results for the first quarter of 2002 and disclosed that the overwhelming majority of new business can be attributed to its intake of new factoring clients.
22/04/2002
|
|
Last week the Chancellor of the Exchequer, Gordon Brown, announced a package of measures to tackle current avoidance of stamp duty on commercial property transactions and launched major reform to modernise stamp duty on land and buildings in the UK. The reformed stamp duty regime, however, will not apply to the transfer of debts.
22/04/2002
|
|
The Royal Bank of Scotland has launched a new low start option for its flexible business loan designed to give small businesses a kick start whether they are setting up from scratch or planning to expand.
22/04/2002
|
|
Small Business Minister Nigel Griffiths today announced a series of new projects to help small businesses with high-growth potential maximise the financing opportunities available by providing them with access to high quality management and financial expertise.
Following the Chancellor of the Exchequer's Budget announcement that the Government wants to improve the effective demand for risk capital, Mr Griffiths announced that the pilot 'investment readiness demonstration projects' will be backed by over Ј1 million of Small Business Service funding.
22/04/2002
|
|
Analysis of the Factors Chain International (FCI) figures on global factoring turnover by market in 2001 has shown that Europe accounts for an increasingly large proportion of the total growth of the global factoring industry.
19/04/2002
|