FIMBank receives top worldwide factoring rankings
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 among others. Members of FCI account for over €75 billion of global factoring volumes in 2018.
FIMBank Group achieved several credentials during this annual meeting.
FIMBank Malta, generating an annual turnover exceeding €200 million in 2017, ranked first in Malta, with an overall service quality score of 100 per cent.
FIMBank Greece ranked 12th Best Export Factor in the World, 30th Best in the World Overall (Export and Import) and second in Greece, with a turnover exceeding €175 million with an 8 per cent international market share and a service quality score of 98.41 per cent.
Egypt Factors, a fully-owned subsidiary of FIMBank, ranked second in Egypt with a 20 per cent market share and turnover exceeding €100m in 2017 and a service quality score of 95.83 per cent.
India Factoring, a majority subsidiary of FIMBank, ranked second in India with a 15 per cent market share and turnover exceeding €250 million and a service quality score of 94 per cent.
Commenting on these results, FIMBank Group CEO Murali Subramanian said: “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 to improve our standing as a provider of quality and reliability in the markets we operate. With these results we are better placed to offer superior supply chain financing and risk management solutions to our clients and partners worldwide.”