FimBank targets Romanian factoring market

FimBank plc, in collaboration with the leading Romanian business newspaper Ziarul Financiar, recently organised a conference in Bucharest on "How to finance your business through factoring".

The event was aimed at introducing the concept of factoring as a sustainable financial solution for businesses in this country. At the same time it also served as a platform to launch FimBank's presence in the Romanian factoring market, through its collaboration with local partner Romfactor.

Speakers at the conference included top factoring executives such as Erik Timmermans, general secretary of International Factors Group, Cagatay Baydar, general manager of TEB Factoring (BNP Paribas Group) and vice-chairman of Factors Chain International, Alessandro Bertoldo, head of Unicredit's Factoring International Department, Romfactor President Dan Stoica and FimBank President Margrith Lütschg Emmenegger.

FimBank President Lütschg Emmenegger addressed the conference and highlighted the fact that factoring is the world's fastest growing trade finance product and consequently, factoring joint ventures remain a key pillar of the bank's strategy. Ms Emmenegger also elaborated on developments with regard to what she referred to as the "trade finance alliance" between the bank and its Romanian partner Romfactor.