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Fraud Causes Fall in Profits at Five Arrows

21/08/2001
UK

Five Arrows Commercial Finance, which in the year ended 31 December 1999, recorded profits before tax of Ј890,000, has seen that figure reduced to Ј128,000 for the following year.

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Siam General Factoring Records Impressive Growth in Profit in Q2 2001

21/08/2001

Siam General Factoring, the third largest player in the Thai market behind Thai Farmers Heller and Ayudhaya International Factors, has recorded a net profit of 4m bt for Q2 2001.

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Industry Ministry Lobbies to Establish New SME Bank

20/08/2001

The Industry Ministry wants laws establishing a new SME bank to explicitly protect lending officers from legal liability if assets turn bad.

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Cutfin Joins FCI

17/08/2001

Cutfin, Absa's debtor finance house, has joined the ranks of almost 150 companies in more than 50 countries by becoming a member of Factor's Chain International.

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Eurofactor (UK) Comment on their Return to Profit in 2000

16/08/2001
UK

Eurofactor (UK) Ltd, the company formerly known as Credit Lyonnais Commercial Finance Ltd, have recorded a return to profit in their accounts for the year ended 31 December 2000.

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Royal Bank Of Scotland Agrees Terms To Buy Euro Sales Finance

15/08/2001
UK

The Royal Bank of Scotland plc (“RBS”) has agreed the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of Euro Sales Finance plc (“ESF”), the European

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Banks Reduce Offer of Credit

15/08/2001

Brazilian banks are reducing the offer of credit to small and medium sized companies due to the growth of default level.

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Euro Sales Finance Records Loss Before Tax of Ј10.9million

14/08/2001
UK

Year end results to 30 June 2001

Euro Sales Finance (“ESF”), the pan European sales finance company, today announces its year- end results to 30 June 2001.

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Factoring Contributes to Healthy First Half Results for Banco Espirito Santo

14/08/2001

The Lisbon-based Banco Espirito Santo, the principal subsidiary of the Espirito Santo Financial Group S.A., today announced its 2001 First Half results.

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RBS Boosts Invoice Finance

14/08/2001
UK

Faster access to invoice finance is being offered electronically by Royal Bank of Scotland’s commercial services arm.

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