Belgium
KBC Commercial Finance NV KBC Commercial Finance NV is part of an international financial group (KBC) headquartered in Belgium.
It’s domestic and core market is Belgian- based. However, it is in a position to offer through its European passport commercial finance solutions to companies in Germany, France, the Netherlands, the UK, Spain and Italy. Its distribution channel is KBC Bank.
slogan “expect more” contains not empty- sounding words. A further growth of the business is
expected in 2011.
Geert Van Nerum General Manager
Canada
Bibby Financial Services Canada Since launching in Ontario in 2006, Bibby Financial Services Canada, has grown to become one of the country’s top 10 factors. BFS Canada, offers a diverse portfolio that includes receivables finance, purchase order finance, export receivables and a specialty product for the transportation sector.
Geert Van Nerum
Like the rest of the world, the Belgian economy recovered in 2010 from the punch it received in 2008-2009. GDP growth for 2010-2011 in Belgium is expected to be positive again, but not as spectacular as in Germany.
Not all is positive: the fallout of the 2008-
2009 crisis results in a new record regarding the number of bankruptcies in Belgium and in combination with the fear for the double dip, uncertainty still reigns. Taking into account this climate and the strong focus by the banks on RWA (Basel II and III), commercial finance solutions and, a fortiori, factoring are increasingly regarded as fully fledged alternatives for providing working capital, especially by the larger companies. As a result, the Belgian factoring market is
flourishing. Volumes are increasing over 25%, but margins are under pressure.
KBC Commercial Finance will increase its volume by 50%, while FTE numbers are dropping.
Its focus on operational excellence and staff involvement are fruitful. Net promoter score given by its clients is about 75%. KBC Commercial Finance has a clear
strategy, a dedicated team, a state of the art technology, and a keen product mix to reassure, to both its shareholders and its clients, that its
Bob Lall
Bibby Financial Services helped fund small and mid-sized companies throughout the recession. This year, the business is on track to grow their client numbers by 50%. A portion of this growth is derived from the launch of new products and success in our core markets including temporary staffing, transportation, apparel and manufacturing.
Business Money
Despite the lingering effects of the global economic crisis, Canada’s economy is relatively stable today. It was the last major developed country to be dragged into the recession and it has fared far better than its neighbour, the US with a strong mixed economy, Canada bounced back from the recession quickly and continues to expand, albeit with a careful eye on the US economy, which could negatively influence its own performance due to a strong trade relationship. BFS Canada is poised for growth from the business community, which continues to seek stable and professional financial providers in the Canadian marketplace.
In 2011, Bibby Financial Services will continue to provide fast and flexible services to meet the needs of the business community. Our management team, with over 50 years' factoring experience, is determined to deliver innovative market- leading solutions to small and medium- sized businesses.
Bob Lall Managing Director
Chile First Factors SA
The Mega-earthquake that affected Chile on February 2010 had many economic consequences as the fall of the growth estimation between 4.25% and 5.25%, while the economic view seemed negative, in the short term the recovery and the financial growth has been quick and effective. The activity figure shows a big growth in
the economy, the GDP growth projection for this year is 5.8% and for 2011 is 6.5%. The acceleration in the process of
industrial growth, reached its annual variation rate of 6.9% during the month of August. Within this, the industry activity reached the level that it had before the earthquake. Mining production experienced an increase of 1.2% growth as a result of an increased copper production. Consumer sales data registers a strong growth sustained by retail sales.
Inflation has evolved lower than expected, the inflation expectation shows a slight reduction in the horizon of short and long term and the central bank aims an annual inflation of 3%. The expansion of the factoring industry will be around 20% year-on-year, which is mainly explained by the strong advance of retail, manufacturing and construction, mining is moving strongly, while at the south of Chile the salmon industry is increasing its sales level.
Between the months of May and June a significant sales growth confirms our projections.
Although the factoring industry projections for 2011 are favourable enough, there are some risks that remain in full force: Internally, there is a risk that macroeconomic gaps close at a faster pace than envisaged, since the activity and domestic demand brought considerable speed, although there are some signs of moderation.
November/December 2010 81
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