IFGROUP News

IFG member IFS Capital launches float on Thai Stock Exchange.

Fri, 23 Jul 2010 01:00:00 +0200

IFG member IFS Capital plans to launch on the Stock Exchange of Thailand in August 2010, floating 120m shares in an IPO which will place 25% of the company’s shares with public investors. The launch is expected to raise over 100m Baht for use in expanding the business. As Mr Tan Lay Yen, CEO puts it, “We have a long history in factoring and… factoring in Thailand has ample room for growth.” IFG wishes IFS Capital every success in its IPO and exciting expansion plans.

IFG welcomes new Member in Hungary! Erste Faktor Zrt

Tue, 20 Jul 2010 01:00:00 +0200

IFG is delighted to announce that Erste Faktor Zrt. of Hungary has become our newest member (with Partner status). Established in 2005, Erste Faktor Zrt. has recently shown dramatic growth, increasing its market share from under 4% in 2008 to over 10% by the first quarter of 2010 and in doing so, becoming the fourth largest player in the Hungarian market. To support its aim of continued growth, Erste Faktor Zrt. wants to widen the scope of its import and export factoring operations. Joining IFG provides access to a broad range of international business partners, expertise and knowledge which will all support Erste Faktor Zrt. in achieving its goals. We wish them every success!

Original Reverse Factoring offer for Import Factors : Tianjin Chinland International Factoring C� in cooperation with Tianjin Commercial Committee invites important buyers to Tianjin to meet with various suppliers

Thu, 20 May 2010 01:00:00 +0200

The rapid development of exports in China has attracted worldwide attention, but due to policy restrictions, the financial industry including banks, can hardly satisfy the needs of exporters in financial support, especially for small and medium-sized processing enterprises and traders. Contradiction of this provides the space for emergence and development of independent factors (including Chinland, previously known as Teanda) in China. However，the actual situation of factoring in China is, due to the particularity of China's financial policies, the fixed mode and inertia of China's export, as well as the late emergence of independent factor in China, factoring, especially independent factoring was not quite well known in China, thus it was relatively difficult to carry out business. From this perspective, we can say that there is huge market potential to explore. For more info read the full article available at this link. Tianjin Chinland International Factoring Co., Ltd.
May 2 ... Read more on the website

GLOBAL INDUSTRY ACTIVITY REPORT 2010- main findings

Tue, 18 May 2010 01:00:00 +0200

According to the first results of our 2010 Global Industry Activity Report, the Worldwide Factoring industry turnover in 2009 can be estimated at approximately 1.232 billion Euro, which is a only a slight decrease compared to 2008. Approximately 118.000 staff members in 2000 factoring companies (or factoring Bank Divisions) have serviced more than 460.000 factoring clients in 2009, who together used 287 million € of factoring finance at the end of the year. Impressive figures that confirm the important role our industry plays in the world of corporate finance. But the industry still lacks sometimes a clear identity and
recognition. IFG members can download the full report at this link or see below some of the main total figures. TOTAL WORLD GDP 2009 (in milion €) 37,914,780 Number of Companies 2007 &n ... Read more on the website

Factoring and Commercial Finance Industry in the EU outperforms GDP

Thu, 06 May 2010 01:00:00 +0200

The total turnover for the factoring and commercial finance industry in 2009 in the EU was 827.516 million EUR representing a decrease of only 1.9 % as measured against the 2008 figures. When compared with a 4% drop in EU GDP and a 3.14% drop in the worldwide factoring market this small decline evidences the robustness of the industry in Europe when compared to general economic growth and to its counterparts worldwide. Given that EU factoring turnover represents almost 70% of the world factoring turnover this is an impressive achievement. Five countries made up approximately 80% of the total EU market share: United Kingdom, Italy, France, Germany and Spain. The factoring penetration in GDP remained consistent with prior years at 6,49%. Mr. John Gielen, Chairman of the EU Federation for Factoring and Commercial Finance, commented: "The new figures confirm that the factoring and commercial finance industry is particularly well adapted to finance business enterprises, especially SMEs ... Read more on the website

International Managers Club - postponed for 13-14 of September

Thu, 06 May 2010 01:00:00 +0200

For practical reasons, the International Managers Club planned for next week was postponed. The new dates are 13 and 14 of September and the location is still Athens since it is one of the most attractive and charming capitals of Europe.More details about the event are found at this link.

New Member in China - UPG

Mon, 03 May 2010 01:00:00 +0200

IFG is pleased to announce that UPG Uni-Power Group , China has been unanimously approved as Member of IFG. IFG wishes them lots of interesting business and networking opportunities within the group.

New Member in Peru, BIF

Mon, 03 May 2010 01:00:00 +0200

IFG is pleased to announce that IFG is pleased to announce that Banco Interamericano de Finanzas - BIF, Lima, Peru has been unanimously approved as Member of IFG. IFG wishes them lots of interesting business and networking opportunities within the group.

New Shareholder in Mexico - Tecnologia en Cuentas por Cobrar

Mon, 03 May 2010 01:00:00 +0200

IFG is pleased to announce that Tecnologia en Cuentas por Cobrar, Mexico has been unanimously approved as Member (Shareholder status) of IFG. C & C are very interested in both traditional and international factoring. You can contact their Managing Director, Mr. Fernando Casares Gonzalez at fcasares@cxc.com.mx for more information about their activities. IFG wishes them lots of interesting business and networking opportunities within the group.

Garanti Factoring's first quarter earnings increased by 23%

Mon, 26 Apr 2010 01:00:00 +0200

Garanti Factoring continued its successful performance with a significant increase of 23% in earnings and achieved a net profit of 3 million TL at the end of first quarter 2010. The balance sheet size of Garanti Factoring reached 1.25 billion TL while the company continued to enjoy a healthy ROE figure of 23 %. Mr. Cengiz Ucbasaran, General Manager of the company said that "Garanti Factoring maintains its ongoing support to the real sector through continuous cash flow, secured sales, commercial collection service, supplier finance and a wide range of import and export product suite. With our unique innovative approach to business, we intend to continue pioneering the new initiatives in customer driven products and solutions available for the sector. He also emphasized that "Turkish Factoring Industry has seen a robust start in the first quarter of 2010 in terms of customer growth and activity. We expect that the sector will continue to grow at accelerated pace for the rest of ... Read more on the website

Registrations are now open for IFG 2010 Annual Meeting in Madrid

Tue, 20 Apr 2010 01:00:00 +0200

The IFG Annual Meeting is the only international conference for all decision-makers in the factoring and asset-based finance industry. Our yearly conference creates a perfect forum for all professionals from the industry to :discuss major issues plan new initiativescreate new business relationships and network with other industry players.The 2010 edition will be organized in Madrid, Spain from Sunday 3 October till Wednesday 6 October.The format of the Annual Meeting gives participants a perfect mix of mind-opening discussions, presentations and networking possibilities. More info about the event including the invitation and the booking form can be found at this link

Registrations are now open for IFG Academy - Module 3 - Managing the Client

Tue, 20 Apr 2010 01:00:00 +0200

Registrations are now open for IFG Academy - Module 3 - Managing the Client which will take place on Monday 7th and Tuesday 8th of June in Brussels. Much to our regret Module 2 of the Academy had to be cancelled due to the flight problems caused by the volcanic erruption in Iceland. A new date will be proposed soon. Students can chose to register only for this module or for all the other modules of the Academy, depending on their availability.The first day of the module is devoted to account management and financial management. The second day is focused on monitoring techniques and on relevant back-office statistics. This event gives newcomers in the factoring industry or in an international factoring department a unique chance to aquire a fast knowledge about the industry. And of course, like all IFG events, it is also a great opportunity for networking and for meeting with your international peers.More details including the agenda and the event ... Read more on the website

IFG Academy - Module 2 - cancelled due to flight disruptions

Sat, 17 Apr 2010 01:00:00 +0200

As communicated before we see ourselves forced to cancel the Module 2 of the IFG Academy due to flight dissruptions caused by the volcanic activity in Iceland. As some of the trainers and most of the participants are flying in - it is impossible to hold the Academy in proper conditions due to these circumstances. A new date for the module will be proposed as soon as possible. Participants are kindly asked to send a short acknowledgement of receipt of this message.

Volcanic Activity vs. IFG Academy

Fri, 16 Apr 2010 01:00:00 +0200

Due to the Eyjafjallajökull Volcano erruption in Iceland for the moment the Airport in Brussels is closed until Saturday at 20:00 (as we can see on their website). We have decided to wait with a potential decision to cancel or not the module - until this Sunday 18/04 at 11:00 - and see how the situation evolves. We ask the trainers and participants to keep us informed if they have problems in getting into Brussels due to this situation. They can reach us at:s.munteanu@ifgroup.com or e.timmermans@ifgroup.com or at 0032 499 542 528For the moment 2 participants (out of 20) have canceled. written at 17/04/2010 at 13:52

New Shareholder in China - Sinofactor - looks for two factor business

Wed, 07 Apr 2010 01:00:00 +0200

IFG is pleased to announce that Sinofactor, China has been unanimously approved as Member (Shareholder status) of IFG. They are planning to focus on expanding their two-factor activities world wide. You can contact their Manging Director, Mr. Honglin Wang at honglin_wang@sinofactor.com for more information about their activities. IFG wishes them lots of interesting business and networking opportunities within the group.

Slovak Tatra banka again the No. 1 factor in Slovakia

Mon, 29 Mar 2010 01:00:00 +0200

According to the 2009 factoring results presented by Assosiation of factoring companies in Slovakia, Tatra banka is again the biggest factoring company on the market maintaining the position from previous year. Factoring of Tatra banka, which is the part of Raiffeisen International, recorded turnover of EUR 269 mln., down 11 percent in year-on-year comparison. The turnover decrease was however the weakest on the market, which slipped over 26 per cent reflecting the financial crisis in the very open Slovak economy. Therefore Tatra banka even strenghtened its market position to 24% remaining the biggest factor in Slovakia.
The portions of domestic and international factoring on the total factoring turnover were balanced. The non-recourse factoring increased its share from 9% in 2008 to 16% in 2009.

Factoring in the German press

Tue, 09 Mar 2010 01:00:00 +0100

Visibility of the factoring is increasing. This is especially true for the German market where quite a number of articles about the factoring companies on that market were issued. These are now available for our (german speaking) members:BFS FinanceDeutsche Factoring BankDresdner FactoringBibby Financial Servicesfactoring.plusSudFactoringVR Factorem and Crefo Factoring

Registrations are now open for IFG Academy - Module 2 - From Prospect to Client

Sun, 07 Mar 2010 01:00:00 +0100

Registrations are now open for IFG Academy - Module 2 - From Prospect to Client which will take place on Monday 19th and Tuesday 20th of April in Brussels. After a very sucessfull first module where aprox. 20 students from 11 countries debated on key aspects of the World of factoring (presentations and pictures available at this link) we continue the IFG Academy with this new and interesting module. Students can chose to register only for this module or for all the other modules of the Academy, depending on their availability.The first day of the module is devoted to factorability and lead generation as well as to key aspects of the sales process. The second day is more focused on prospect assesment and on ways to close the deal. This event gives newcomers in the factoring industry or in an international factoring department a unique chance to aquire a fast knowledge about the industry. And of course, like all IFG ... Read more on the website

IFG February Newsletter

Sun, 21 Feb 2010 01:00:00 +0100

The IFG February Newsletter with the latest news from the factoring industry is now availableThe highlights of this issue include:Presentation of new members: CIM FInance, MauritiusDresdner Factoring, GermanyNews from our sponsors FidisThe first factoring forum in Latin America - OverviewIFG Academy - Words from future participantsGM Club in Copenhagen - OverviewEU Federation - new position paper and the first General CouncilIfexchange - version 4.0 You can read the full PDF version of the newsletter at this link.

2009 - Not an easy year for factoring in CEEC

Wed, 17 Feb 2010 01:00:00 +0100

For the time being there are information from two markets available: Poland and Czech. Based on the information provided by the Polish Factoring Association we can estimate how the factoring in the region has performed in the year 2009. The turnover reported by companies rendering factoring services federated in the Polish Factor Associated presented on a press conference held in Warsaw on January 12th , 2010 amounted to over PLN 30 billion which was 8,5% lower than a year earlier. This result was influenced by a conservative approach of insurers, who ran a more conservative policy on trade of insurance, what led to decrease of the non recourse factoring volumes. In the press conference participated as a special guest Mr. Erik Timmermans having an short presentation on the European and worldwide factoring market.The leader among PFA members was ING Commercial Finance with a market share of 30.7%, followed by Pekao Faktoring with 16,4 % of market share. Coface Poland Factoring holds the ... Read more on the website

Garanti Factoring's 2009 earnings increased 42%

Wed, 17 Feb 2010 01:00:00 +0100

Garanti Factoring closed the year 2009 with a significant increase of 42% in earnings and achieved a net profit of 10 million TL as of the year end.Mr. Cengiz Ucbasaran , General Manager of the company said: " Garanti Factoring continues its positive trend in profitability, client numbers, market penetration and market share. Garanti Factoring 2009 balance sheet result is a real indicator of the company's ongoing support to the real sector through the financial turmoil."
He also emphasized: " Garanti Factoring successfully continued its sustainable growth in 2009 and achieved USD 5.85 billion turnover while enjoying a ROE figure of 22%. Despite the global economy struggled against crisis and recession Garanti Factoring reached a balance sheet size of 1.14 billion TL with an appreciable growth of 52% comparing to the previous year end. "In 2009, Garanti Factoring, being a major player in the market, added new values to the Turkish Factoring Sector. Mr Cengiz Ucbasara ... Read more on the website

According to the results of 2009 National Factoring Company was ranked number 1 among Russian import factors

Tue, 02 Feb 2010 01:00:00 +0100

The aggregate import factoring turnover reached nearly 12,6 mln. EUR.As a member of the International Factors Group and Factor Chain International, NFC actively worked with 20 partners representing 16 countries of the world in the reporting period. NFC cooperates traditionally with export factors from Western and Eastern Europe, Baltic countries, CIS countries, Asia and South America. Factors from countries of South America, including those from Argentine, Brazil and Chile, are the most distant partners for NFC. In the reporting period NFC extended partnership with new factoring companies from such countries as Italy, Austria, Egypt and France. The wide geographical coverage of international factoring in many ways determines the diversified range of goods, imports to Russia of which are factored by NFC: food stuff, beverages, durable equipment, cars, component parts and car spare parts, textiles, construction materials etc. Full factoring operations (with credit risk protection) ... Read more on the website

Special features of competitive positioning and promotion of factoring company�s products

Wed, 27 Jan 2010 01:00:00 +0100

Phd. Ilya Pokamestov, CEO, FACTORing PRO, and Phd. Lednev Mikhail, Marketing Director at the same company have recently completed a research about the competitive features and positioning of the factoring products. The article was published in "Economic Science" journal and is now available for IFG members for free. Please find the complete research at this link.

EU Federation leaders to present on future plans, benefits and new era thinking for factors at RFIx 2010

Sat, 23 Jan 2010 01:00:00 +0100

Following the worst recession in recent history, the factoring and receivables finance industry is at a crossroads. Choosing the right path for development strategies is now critical and may mean the difference between profitable new opportunities and failure.

This year's Receivables Finance International conference and exhibition (RFIx)* will look at the new opportunities for factors, particularly as a result of the crisis and also the new environment that factors face.
One of the ways forward in the new era is for factors to achieve greater recognition and political support for the benefits of factoring. Ensuring that governments understand the benefits of factoring to economies is seen as key to the future development of the industry. The recently formed EU Federation is aimed at doing just that, but with the synergy of having a EU unified approach. RFIx will examine the precise structure, purpose and plans of the EUF, establish how they will be achieved and how individual factors ... Read more on the website

New Shareholder - Dresdner Factoring - Germany

Wed, 20 Jan 2010 01:00:00 +0100

IFG is pleased to announce that Dresdner Factoring, Germany has been approved as Member (Shareholder status) of IFG. You can contact Rohmann Bernward at rohmann@dresdner-factoring.de for more information about their activities. IFG wishes them lots of interesting business and networking opportunities within the group.

Factoring Business Solutions published the survey of the Russian job market in factoring for 6 months 2009.

Sat, 16 Jan 2010 01:00:00 +0100

Last year the Factoring Business Solutions conducted first labor market survey of the Russian factoring industry. This survey contains information practically about all participants of Russian factoring market (banks, factorings companies, staff), their HR policy, most in-demand experts, income level, expectations of job seekers and preferences of employers. Financial crisis has altered the situation in labor market: the balance of power has shifted from candidates to employers. Many factoring companies/banks withdraw from market. As a result more than 50% of all specialists, who worked with factoring companies/banks, were fired. Companies cut staff as the volume of business shrank.The number of staffers at the middle of 2009 was about 500 specialists compared to 2000 employees at the middle of 2008, one in 4 professionals was selected from redundancy.Salary growth has slowed down. Many employees emphasized cutting of wages and employment benefits at an average rate of 15-20% over the ... Read more on the website

IFG Academy - program for the first 4 modules is finalised

Wed, 13 Jan 2010 01:00:00 +0100

The agendas for the first 4 modules of the IFG Academy are now finalized. The timings and the key topics have been agreed with the IFG Academy Trainers. The content so far is reach in case studies and the theoretical sessions are mingled with more dynamic group discussions and reflection periods. The resulting agendas are available at this link, next to each of the modules.

Open Conferance call for IFG Academy - questions and answers

Wed, 13 Jan 2010 01:00:00 +0100

On 25 of January at 11:00 (Brussels time) we are organizing a conference call for the persons who would like more information about the IFG Academy. Everyone is welcomed to participate. Anyone who wishes to join should dial:Phone No: +32 2 289 5333
Code: 1600 #There are no extra costs except the normal calling rates.

Five Reasons Why 2009 was a Good Year for the Commercial Finance Industry

Thu, 07 Jan 2010 01:00:00 +0100

Mike Semanco, President of Hennessey Capital LLC, a Michigan-based specialty finance company providing working capital to small and mid-sized businesses, doesn’t deny that 2009 was an exceedingly challenging year for businesses of all sizes. However, he does say that 2009 may prove to be a watershed year for the commercial finance industry.
“The economic crisis and simultaneous traditional credit drought created an opportunity for the commercial finance industry to step up to the plate and be recognized,” affirms Semanco. “The ability of many commercial finance companies to say yes to lending when many banks were saying no, often meant the difference between a business maintaining its position in the marketplace or closing its doors.” Hennessey Capital President Mike Semanco offers the following 5 Reasons why 2009 was a good year for the Commercial Finance Industry: 1. The industry reminded the business community why factoring and asset-based lending ... Read more on the website

Registrations are now open for IFG Academy - Module 1 - The World of Factoring

Mon, 04 Jan 2010 01:00:00 +0100

Registrations are now open for IFG Academy - Module 1 - The World of Factoring which will take place on Monday 1st and Tuesday 2nd of March in Brussels. Students can chose to register only for this module or for all six modules of the Academy, depending on their availability.The first day of this very interesting module is devoted to the history and evolution of factoring as well as to a presentation of the position of factoring as opposed to the different products on the marketplace. The second day is focused on legal considerations as well as opportunities and barriers for expanding into new markets. This event gives newcomers in the factoring industry or in an international factoring department a unique chance to aquire a fast knowledge about the industry. And of course, like all IFG events, it is also a great event for networking and for meeting with your international peers.More details and the registration form are to be found on ... Read more on the website

Worldwide factoring report - 2009

Sun, 03 Jan 2010 01:00:00 +0100

Some of IFG members' share their experiences of a chalenging year in 2009. We are happy to share with you the most important trends and developments they report in 21 countries around the globe. The report was published in the December edition of Business Money and is now available for free at this link.

Russian Association of Factoring Companies publishes the survey of the Russian factoring market for 9 months 2009

Tue, 22 Dec 2009 01:00:00 +0100

In November 2009 the Russian Association of Factoring Companies (AFC) conducted its first survey of the Russian factoring market.The survey involved 17 organizations, of which 12 banks and 5 factoring companies, representing approximately 84% of the total turnover of the Russian factoring market. The members of AFC account for 64% of the factoring market.The factoring turnover registered for 9 months 2009 is about 188 billion rubles, which represents a 36% increase compared to half year results. According to our estimates, the volume of the whole factoring market (including factors which did not participate in the survey) is about 215 billion rubles. If the growth rates will remain at the same level, the volume of the factoring market at the end of the year could reach 320 billion rubles, compared to 602 billion in 2008. Speaking of product breakdown, the Russian factoring market is still predominantly a recourse market: the share of recourse factoring&nbs ... Read more on the website

New Shareholder - RomFactor - ROMANIA

Thu, 17 Dec 2009 01:00:00 +0100

IFG is pleased to announce that RomFactor, ROMANIA has been approved as Member (Shareholder status) of IFG. You can contact Dan Stoica at dan.stoica@romfactor.ro. IFG wishes them lots of interesting business and networking opportunities within the group.

Save 20% on your subscription to Trade Finance Magazine!

Thu, 10 Dec 2009 01:00:00 +0100

IFG is glad to announce that our members can subscribe to Trade Finance Magazine with a 20 % discount. Check out the attached offer for more information. With access to trade finance at the top of the agenda for corporates, agencies and governments, it is essential you have the latest information on the international trade finance market at your fingertips. Trade Finance magazine is the recognised authority on global trade, export and commodity finance markets, factoring and forfeiting - intelligence vital to exporters/importers, financiers, traders, insurers and other service providers. As a member of the International Factors Group, we are pleased to offer 20% off a new subscription to trade finance. This exclusive offer is only available until 31st Jan 2010. Subscribe now à www.tradefinancemagazine.com/SpecialOffer.html?SourceCodeId=15739&ls=722 Reviewing the market since 1983, our content has evolved just as the market has to meet the requirements of finan ... Read more on the website

New Associated Partner - Cim Finance Ltd - Mauritius

Tue, 01 Dec 2009 01:00:00 +0100

IFG is pleased to announce that CIM Finance LTD, Mauritius has been approved as Member (Associated Partner status) of IFG. More info about their activities on http://www.cim.mu/IFG wishes them lots of interesting business and networking opportunities within the group.

IFG November Newsletter

Mon, 23 Nov 2009 01:00:00 +0100

The IFG November Newsletter with the latest news from the factoring industry is now available

The highlights of this issue include: New members present themselvesþ BCC Factoring, Italy þ Coface, Australiaþ KazCommerceFactor LLP, Kazakhstanþ Russian Factoring Company, Russiaþ VTB Factoring Ltd., Russia News from our sponsors: þ The Receivables Exchange - Growth, Liquidity and InnovationIFG Annual Meeting in St Petersburg - Overview & Results of the electionsEU Forum becomes the EU FederationInvitation to our year-end events - IT Managers' Club and Operations SeminarIF Exchange 4.0 - successful release.You can read the full PDF version at this link.