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FIMBank Receives Top Worldwide Factoring Rankings

18.07.2018

The FIMBank Group achieved strong recognition and won top industry rankings at the annual meeting of the Factors Chain International association in Amsterdam, at its anniversary meeting in June. FCI, headquartered in Amsterdam, is a global network of the world’s best factoring banks and companies, counting over 400 institutional members in 90 countries, and connects, educates and influences cross-border and domestic factoring as well as supply chain financing, across the global financial community comprising the biggest international banks amongst others. Members of FCI account for over EUR 75bln of global factoring volumes in 2018.

FIMBank Group achieved several credentials during this annual meeting.

FIMBank Malta, generating an annual turnover exceeding EUR 200 million in 2017, ranked first in Malta, with an overall service quality score of 100%.

FIMBank Greece ranked 12th Best Export Factor in the World, 30th Best in the World Overall (Export and Import) and 2nd in Greece, with a turnover exceeding EUR 175mln with an 8% international market share and a service quality score of 98.41%.

Egypt Factors, a fully-owned subsidiary of FIMBank, ranked second in Egypt with a 20% market share and turnover exceeding EUR 100mln in 2017 and a service quality score of 95.83% .

India Factoring, a majority subsidiary of FIMBank, ranked second in India with a 15% market share and turnover exceeding EUR 250mln and a service quality score of 94%.

Commenting on these results, FIMBank Group CEO Murali Subramanian said that “Factoring is a technically sophisticated product and one of the most important components of supply chain financing globally, and is a cornerstone of our business. These results are a reflection of our constant efforts at improving our standing as a provider of quality and reliability, in the markets we operate in. With these results we are better placed to offer superior supply chain financing and risk management solutions to our clients and partners worldwide”.