|
Lloyds TSB Commercial Finance is building on its record growth in transactions business by launching a national team of regionally based dedicated transaction specialists.
Lloyds TSB Commercial Finance has almost 10 years of experience in this market. It had a record year in 2000 with a 45% increase in the number of transactions supported compared with 1999. This strong performance has continued in the first quarter of 2001, with double the number of transactions and nearly treble the amount of facilities extended compared with the same period in 2000.
06/04/2001
|
|
Growing Market for Factoring Software Requires Reliable Remote Access Solution
GraphOn Corporation (www.graphon.com), a leading developer of business infrastructure software, today announced they have signed a reseller agreement with Distinctive Solutions, a commercial finance software company. Distinctive Solutions, developers of Factor/SQL, will sell GraphOn's web-enabling software to its customers who need to access Distinctive Solutions' application from satellite offices, home, or other remote locations over the Internet.
03/04/2001
|
|
Greater Bay Bancorp, a $5.1 billion in assets financial services holding company, announced that it has completed the acquisition of CAPCO Financial Company, Inc., a factoring and asset-based lending company headquartered in Bellevue, Washington. Greater Bay Bancorp purchased the company for $8.5 million in cash and stock, representing approximately 3.7 times EBITDA.
03/04/2001
|
|
The Swedish-based bank Skandinaviska Enskilda Banken (SEB) has increased its shareholding in the Bank Ochrony Srodowiska (BOS) by 6% to 37.89%. BOS is a Polish bank which offers domestic and international factoring services. This transaction is part of the SEB’s strategy to expand in Europe. The consideration has not been disclosed.
On October 2000, SEB increased its shareholding in BOS from 4.4% to 31.89%.
Source: Zephus
02/04/2001
|
|
BCR Publishing, publishers of the World Factoring Yearbook, Factoring in the UK and factorscan.com. are holding a major conference on the international factoring and receivables finance industry at the Amsterdam Marriott on the 7th and 8th of June 2001.
29/03/2001
|
|
According to Lloyds TSB Commercial Finance Ltd, the company’s already dominant market share has increased to over 20% of the factoring and invoice discounting market, following the amalgamation of Alex Lawrie’s company results with those of Lloyds TSB Commercial Finance.
-Reported highlights for the year include:
28/03/2001
|
|
Atlas Trade Finance Limited have released an abbreviated set of accounts for the year ended 31 May 2000. The results show that the company’s net current assets have risen from Ј2,555 in the year ended May 31 1999 to Ј23,458. Atlas has also recorded an increase of 305% in the amounts of current assets due from debtors on the previous year, climbing from Ј1,025,104 in the year ended 31 May 1999 to Ј4,152,060.
28/03/2001
|
|
Jack Henry & Associates, Inc. (which provides integrated computer systems and ATM networking products for banks and credit unions) and the privately held specialist finance software company, eRevenue, announced an agreement to jointly market the eRev(TM) Internet-based factoring solution to 2,800 JHA customers.
Mike Henry, CEO of JHA stated, "Our Banks will now have the opportunity to increase profitability with this Internet accessible commercial lending instrument that further complements our core product offerings."
26/03/2001
|
|
NMB-Heller Ltd today released their annual accounts for the year ended 31 December 2000. Turnover has risen by 23.19% to Ј37,433,000 from the 1999 figure of Ј30,389,000. Pre-taxation profits have risen by 14.59% to Ј6,306,000 from the 1999 figure of Ј5,503,000.
22/03/2001
|
|
DCD Factors PLC today released their annual accounts for the year ended 31 December 2000. Turnover has risen by 50.06% to Ј744,718 from the 1999 figure of Ј496,287. Pre-taxation profits have risen by 1133.29% to Ј119,308 from the 1999 figure of Ј9,674.
This rapid expansion of profit is typical of the profit growth format of a small factoring company in its third year.
BCR Publishing
21/03/2001
|
|
The financial services holding company, Greater Bay Bancorp, has announced that it has signed a definitive agreement to acquire the Washington-based factoring and asset-based lending company, CAPCO Financial Company, Incorporated.
Greater Bay Bancorp will purchase the company $8.5 million in cash and stock. The regulation is subject to regulatory approval and is expected top close in the first quarter of this year.
19/03/2001
|
|
The Bank of England has published the eighth edition of its ‘Finance for Small Firms’ report. The executive summary presents the following findings:
Business Environment
19/03/2001
|
|
Borrowing by small businesses rose by an underlying Ј1.0 billion (+3%) in the final quarter of last year. This was higher than the previous quarters rise and bought total lending to Ј38.9 billion at the end of the year. Over two-thirds of the rise was accounted for by an increase in variable rate term loans.
The final quarter saw 26,000 more current and deposit accounts for small businesses, whilst an in crease of Ј2.3 billion raised the level of their total deposits to Ј41.2 billion.
19/03/2001
|
|
Sanwa Bank (parent of the Japanese factoring company, Sanwa Business credit Co Ltd), Tokai Bank (parent company of the Central Factors Ltd) and Toyo Trust & Banking are set to merge into UFJ Holdings. The merger in April will form Japan’s fourth largest bank.
Source: Financial Times
BCR Comment
16/03/2001
|
|
Rumours have emerged that Credit Agricole SA, parent company of French factors Transfact, is to float on the Paris stock exchange. It is understood that Credit Agricole plans to list in the second half of 2001.
Source: Zephus
16/03/2001
|