Factors Chain International (FCI) publishes the 2011 worldwide factoring ranking
MEDIOFACTORING (INTESA SANPAOLO GROUP): TOP FACTORING COMPANY IN EUROPE AND FOURTH IN THE WORLD
• The 2011 ranking, compiled by FCI (the leading worldwide association for the factoring industry) reviewed over 250 factoring companies in 69 countries
• With a global market share of 2.5%, Mediofactoring is also the top factoring company in the western world
• Competing with Mediofactoring for the top 5 places in the ranking are 3 Chinese companies and 1 Japanese company
• Between 2007 and 2011, the market share of Mediofactoring in Italy went from 22% to 30%, confirming the absolute leadership on the domestic market
Milan, 26 April 2012 - Factors Chain International (FCI), the leading worldwide association for the factoring industry published the statistics on over 250 associates in 69 countries, which show a strong growth of factoring around the world (+22% compared to 2010) with volumes totalling 2,015 billion euro.
Mediofactoring, already Italy's leader with a market share of 30% and 2.5% globally, in 2011 became by far the first factoring company in Europe and the fourth worldwide. In the top 5 places of the ranking there are also 3 Chinese companies and 1 Japanese (see table below), effectively propelling the company to the top spot among Western factoring companies.
On the international scene, Mediofactoring - part of the Corporate and Investment Banking Division of Intesa Sanpaolo - is ranked as the world's second export factor, thanks to the support it provides to Italian export, and first import factor in terms of foreign customers.
This result was achieved thanks to the increase in the Company’s turnover over the last three years. Its market share, which stood at approximately 22% in 2007, went up to 30% in 2011, with volumes of approximately 49.6 billion euro at the end of 2011 (+47% on 2010) and loans totalling 9,8 billion euro (+17.3% on 2010). For 2011, the company posted a net income of 68 million euro, up by 18.5% on the previous year.
“This rewards us for our activity in over these years, which makes us truly proud. In a scenario that continues to be difficult for the world’s economy and in which credit continues to be a complex issue, Mediofactoring managed to grow and, as a result, to provide an important support to the development of many companies in several sectors – declared Rony Hamaui, the Company’s Managing Director. “Mediofactoring’s strength lies in its ability to cooperate effectively and efficiently with companies in the selection of their customers and counterparties. This is a crucial process especially for those who work abroad and are willing to internationalise their business. We confirm our commitment to continue along the growth path undertaken so far, which will lead us to open a new branch in New York during the year, after opening branches in Spain and Germany in 2011, in our continuous effort to support our customers in the best possible way”.
Media Corporate & Investment Banking Office
Last updated 26 April 2012 at 11:13