The FIMBank Group (the "Group") comprises FIMBank p.l.c., Malta (the 'Bank'), London Forfaiting Company Ltd., London ('LFC'), FIM Business Solutions Ltd., Malta ('FBS') and FIM Property Investment Ltd., Malta ('FPI').
The Bank is a public limited company registered under the laws of Malta, and listed on the Malta Stock Exchange. It is licensed as a credit institution under the Banking Act, 1994. The Bank's principal activity is that of providing short-term international trade finance to corporate traders and to act as an intermediary to other financial institutions for international settlements, forfaiting and loan syndications. The Bank also maintains accounts in various currencies for residents and non-residents and provides credit card facilities to its customers. The Bank acquired full control of LFC in 2003. The FIMBank Group is supervised on a consolidated basis by the Malta Financial Services Authority.
LFC is registered in the United Kingdom as a private limited liability company. It was founded in 1984 and provides international trade finance services with particular focus on forfaiting business through an international network of offices. Some of these offices have distinct corporate status in the various jurisdictions where they are providing the service. LFC's main activities are the purchasing of bills of exchange, promissory notes, deferred payment letters of credit and transferable financial loans from exporters or their banks and subsequently selling these instruments to customers or other institutions. [website: www.forfaiting.com]
FBS is registered in Malta, and was established early in 2005 as business systems provider and technology consulting firm, primarily to service the FIMBank Group as well as to target FIMBank joint venture companies, downstream correspondent banks and other organisations known to the Group. [website: www.fimbs.net]
FPI is registered in Malta and was established in 2008 as a property management company responsible to plan, construct and complete the Bank’s head office on the island. FPI is responsible for the facilities management of this purposely built office block as well as the leasing of office and other retail or commercial space.
FIMFactors BV is a wholly-owned subsidiary and serves as a corporate vehicle for the Issuer’s holdings of factoring joint ventures and associated companies. It currently holds the shareholding in MENAFactors Limited, India Factoring and Finance Solutions Private Limited and CIS Factors Holding BV. It is also scheduled to eventually hold FIMBank’s shareholding in Egypt Factors Limited in due course.