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FIMBank Group wins prestigious GTR awards

07.12.2010

FIMBank plc and London Forfaiting Company Ltd (LFC), two companies which form part of the FIMBank Group, were recently declared ‘Best Factoring House’ and ‘Best Forfaiting House’ respectively by international trade finance magazine Global Trade Review (GTR). FIMBank has won the award for the second consecutive year while London Forfaiting has claimed this title for the third year running.

Commenting on these awards, FIMBank Group President Margrith Lütschg-Emmenegger stated that she was delighted to learn that both FIMBank and LFC were awarded the title of Best Factoring House and Best Forfaiting House respectively by GTR. “These awards, which follow on similar past successes for both institutions, reflect the FIMBank Group’s growing reputation as a reliable global partner in the dynamic and specialist world of Trade Finance”. LFC’s Managing Director Simon Lay was equally thrilled: “London Forfaiting has now been at the forefront of the forfaiting industry for over 26 years, demonstrating its commitment to the product and to our clients. Our expertise and geographical coverage allows us to offer a global service dedicated specifically to forfaiting and trade finance for our exporting, importing and bank clients alike.”

FIMBank plc is an international trade finance bank focused on delivering trade finance solutions to businesses worldwide. The Bank actively pursues a strategy of establishing factoring joint ventures with prominent institutions in selected emerging markets. Apart from MENAFactors in Dubai and Egypt Factors in Egypt, the past year also saw the Bank expanding its international network to include FactorRus in Russia and India Factoring in India, while it doubled its stake in Levant Factors in Lebanon. Meanwhile, negotiations are in hand to establish similar partnerships in Brazil, Kenya and Vietnam.

On the other hand, UK-registered London Forfaiting Company (LFC), a fully-owned FIMBank subsidiary, has over the years established a reputation as a key player in the forfaiting market, providing fast, efficient, tailor-made non-recourse finance solutions to importers and exporters. LFC boasts a global network of offices, with a presence in Malta, the United Kingdom, Turkey, Russia, Singapore, Brazil and the USA.