France has the second largest factoring market in the world behind the UK. Factoring involves companies selling their receivables to factors, who then manage the receivables, finance the companies, and take on the risk of unpaid invoices. The French factoring market is concentrated among a few large players, with the top 5 factors making up 87% of the market. Factoring provides benefits to companies such as turning receivables into cash and reducing management costs.
It is clear the banking landscape is changing. Explore what open banking means and the impact it could have on the market. Find out more in our report at Deloitte.co.uk/Flourish. You can also discover further analysis on open banking and the future of banking generally at Deloitte.co.uk/FutureBank.
It is clear the banking landscape is changing. Explore what open banking means and the impact it could have on the market. Find out more in our report at Deloitte.co.uk/Flourish. You can also discover further analysis on open banking and the future of banking generally at Deloitte.co.uk/FutureBank.
2016 Financial Services M&A Predictions: Rising to the challengeDeloitte UK
This year’s Financial Services M&A Predictions report explores the key drivers of M&A activity going forward, specifically market disruption and technology; consolidation and growth; and regulatory change. Looking at recent M&A activity, the report predicts how these trends will impact M&A across the whole spectrum of financial services in 2016.
A synopsis of the Financial Conduct Authority’s (FCA) latest news and publications issued in April and May 2018.
With GDPR and MiFID II processes now firmly embedded in our daily lives, many of our readers will look back at the months of April and May with a sense of relief.
Global companies investing in the United States face unique opportunities and challenges. Doing business in the US reviews the key tax issues and provides insights to help investors navigate the US business environment.
Liquidity for advanced manufacturing and automotive sectors in the face of Co...EY
With a global economy in crisis due to Covid-19 our liquidity and cash management deck for advanced manufacturing and
mobility companies looks at how these companies should best respond.
The future of the OTC Derivative Market - Eugene stanfieldLászló Árvai
Impact of mandatory central clearing on OTC derivatives
Cost of doing business
Collateral management efficiency
Regulations still to shape how we do business
A round-up of the latest UK economic news, including a reminder of the key announcements in George Osborne's Budget, inflation falling to 0%, the latest unemployment figures and David Cameron's comments about his re-election.
Once a year Intrum Justitia conducts a comprehensive survey of payment habits in Europe. Called the European Payment Index (EPI), it is the largest survey of its kind.
SUPPLY CHAIN FINANCE IN THE CONTEXT OF WORKING CAPITAL MANAGEMENTIgor Zax (Zaks)
Igor Zax, Managing Director of Tenzor Ltd., published a special report, Supply Chain Finance in the Context of Working Capital Management .
The report, published in conjunction with BCR Publishing, covers industry structure, risk management, financing and operational aspects, the way companies viewed the product, as well as trade offs between dynamic discounting and supply chain finance products.
It’s no secret that the major reporting regimes – MiFID II, EMIR, MiFIR, REMIT, CSDR, SFTR, FinfraG – have drastically impacted the European financial industry.
The level and volume of new regulations that businesses, firms, providers, and organisations are still adjusting to is only the beginning. Transaction reporting will continue to have a large impact on the infrastructure, resources, and budgets of organisations, providers, firms, and subsidiaries well into the future.
2016 Financial Services M&A Predictions: Rising to the challengeDeloitte UK
This year’s Financial Services M&A Predictions report explores the key drivers of M&A activity going forward, specifically market disruption and technology; consolidation and growth; and regulatory change. Looking at recent M&A activity, the report predicts how these trends will impact M&A across the whole spectrum of financial services in 2016.
A synopsis of the Financial Conduct Authority’s (FCA) latest news and publications issued in April and May 2018.
With GDPR and MiFID II processes now firmly embedded in our daily lives, many of our readers will look back at the months of April and May with a sense of relief.
Global companies investing in the United States face unique opportunities and challenges. Doing business in the US reviews the key tax issues and provides insights to help investors navigate the US business environment.
Liquidity for advanced manufacturing and automotive sectors in the face of Co...EY
With a global economy in crisis due to Covid-19 our liquidity and cash management deck for advanced manufacturing and
mobility companies looks at how these companies should best respond.
The future of the OTC Derivative Market - Eugene stanfieldLászló Árvai
Impact of mandatory central clearing on OTC derivatives
Cost of doing business
Collateral management efficiency
Regulations still to shape how we do business
A round-up of the latest UK economic news, including a reminder of the key announcements in George Osborne's Budget, inflation falling to 0%, the latest unemployment figures and David Cameron's comments about his re-election.
Once a year Intrum Justitia conducts a comprehensive survey of payment habits in Europe. Called the European Payment Index (EPI), it is the largest survey of its kind.
SUPPLY CHAIN FINANCE IN THE CONTEXT OF WORKING CAPITAL MANAGEMENTIgor Zax (Zaks)
Igor Zax, Managing Director of Tenzor Ltd., published a special report, Supply Chain Finance in the Context of Working Capital Management .
The report, published in conjunction with BCR Publishing, covers industry structure, risk management, financing and operational aspects, the way companies viewed the product, as well as trade offs between dynamic discounting and supply chain finance products.
It’s no secret that the major reporting regimes – MiFID II, EMIR, MiFIR, REMIT, CSDR, SFTR, FinfraG – have drastically impacted the European financial industry.
The level and volume of new regulations that businesses, firms, providers, and organisations are still adjusting to is only the beginning. Transaction reporting will continue to have a large impact on the infrastructure, resources, and budgets of organisations, providers, firms, and subsidiaries well into the future.
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industry.
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of latest data points and publicly
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Insurance Industry. We are very
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Contents1.0Background11.1 Industry Overview11.2 Financi.docxmaxinesmith73660
Contents
1.0 Background 1
1.1 Industry Overview 1
1.2 Financial Background 1
2.0 Analysis of Accounting Quality 2
2.1 Vodafone PLC 2
2.2 Zain 3
3.0Trend Analysis 3
3.1 Financial Position 3
3.2 Revenue 4
4.0 Profitability Analysis 5
4.1 Return on Capital Employed 5
4.2 Profitability at Operational level 5
4.3 Financial Leverage 6
4.4 Operating Spread 6
4.5 Second Level of Decomposition 7
4.5.1 Profit Margin 7
4.5.2 Asset Turnover 7
5.0 Industry Analysis 7
5.1 Vodafone 7
5.2 Zain 9
6.0 Conclusion 10
7.0 References 11
8.0 Appendix 12
Return on Capital Employed - Inter-firm comparison 13
First Level Inter-firm Analysis 13
Financial Leverage 14
Net Borrowing Cost 14
Operating Spread 14
Second Level Inter Firm Analysis 15
Asset turnover 16
Drivers of Profitability – Vodafone – European Market 17
Drivers of Profitability – Zain Telecom – GCC Market 19
List of Tables
Table 1:1 Trend Analysis - Vodafone – Abstract4
Table 1:2: Trend Analysis - Zain Telecom - Abstract4
Table 1:3: Income Trend Analysis - Vodafone - Abstract 4
Table 1:4 Income Trend Analysis - Zain – Abstract5
Table 1: 5 Return on Capital Employed - Vodafone vs. Zain5
Table 1:6 Return on Net Operating Assets - Vodafone vs. Zain6
Table 1:7 Financial Leverage: Vodafone vs. Zain6
Table 1: 8 Operating Spread - Vodafone vs. Zain 6
Table 1:9 Profit Margin - Vodafone vs. Zain7
Table 1: 10 Asset Turnover - Vodafone vs. Zain 7
Table1: 11 Industry Average - Vodafone vs. Europe8
Table 1:12 Industry Analysis - Zain vs. Gulf9
ii
1.0 Background
It is impossible to imagine modern society without mobile telecommunications given that three billion calls are made each day in the US alone (Romano, 2013), there are more than 6.8 billion mobile telecommunications subscribers worldwide, and today, 96.2 out of every 100 people are expected to have a mobile device (Mobi-thinking, 2013). If these figures are not astonishing enough, the number of mobile subscribers is likely to surpass the world’s population in 2014 (Pramis, 2013). A total of 1.9 billion cell phones were sold in 2012, and the number does not seem as though it will fall anytime soon; in fact, the number is likely to grow to 2.6 billion by 2016 (Mobi-thinking, 2013). In 2011 in the UK, the number of mobile calls surpassed landline calls (Lee, 2013). Vodafone Group is the second largest service provider in the world, with a 2013 revenue of more than £44 billion (Mobi-thinking, 2013). However, assessing the financial state of a telecommunications company involves more than just assessing its revenue. This high technology oriented industry has continuous technical development, requiring shorter spans of return on investment and complex depreciation adjustments.
1.1 Industry Overview
The telecommunications industry is in itself diversified to various product offerings. Usually, cellular telecommunications (mobile and satellite) and fixed line telecommunications (landline and internet) are the two identified categories. China Mobi.
Digital Disruption in Asset and Wealth ManagementCapgemini
The groundswell that is today impacting massively retail banking is now impacting all banking businesses. Opportunities offered by new digital technology such as Big data & analytics have not been fully explored yet by Asset & Wealth Management actors, and new technologies are mainly confined to improve shared platforms and reporting flexibility. But the turn might come soon now with the aggressive launches of Fintechs investing all parts of the banking business, including its most exclusive territories.
Asset and Wealth Management might be the next targets, facing the up-rise of new Robo-Advisors quickly gaining market
share on their devoted playground until now.
Traditional Asset and Wealth Managers should anticipate and react, building on their knowledge and assets in order to contain this new trend but this will require that they adapt and probably more globally rethink their business model, to avoid the commoditization of their activity.
The aim of this document is to present how Asset and Wealth Managers can take advantage of the digital revolution / emergence of Fintechs to become more competitive and attract more clients.
Capgemini-World Insurance report 2014. This has been downloaded from the Cap Gemini website and I do not have any right over it.
In case of an objection do intimate me so that I can get this deleted
The report aims at stimulating thoughts and discussions on Supply Chain Finance topic and it doesn’t intent to give a professional advise to your company, taking into account that each Business has specific requirements and goals.
Industry and firm profile- MBA course papergirish0984
The objective of this document is to study a particular industry and a firm within that industry. This document describes the Financial Services Industry and JP Morgan bank.
Receivables Finance in the Context of Working Capital Management by Igor ZaxIgor Zax (Zaks)
Igor Zax, Managing Director of Tenzor Ltd, published a new article, Receivables Finance in Context of Working Capital Management in TRF News (Trade and receivable Finance News, a major publication by BCR).
Editorial comment states “Igor Zax’s article in today’s trfnews, ‘Receivables Finance in the Context of Working Capital Management’, reminds us of the value of looking back at the history of modern supply chains and how working capital management, and hence factoring and supply chain finance, has developed from this. It also reflects on the potential frailty and dangers that over exposure to some supply chain structures can bring.
On late payments he says: “just a couple of weeks delay on 30 day terms increases working capital consumption by one-and-a-half times.” I wonder how many factors use such direct terms in their advertising material. If they do not, perhaps they should consider it, particularly as the trend is for larger companies to use receivables finance, and it is those companies in particular that tend respond well to the use of such analytic sound bites.”
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
2. On a worldwide scale, almost a thousand
companies currently offer factoring
services, of which 435 are in Europe.
The factors, namely the companies operating
in this market, are usually subsidiaries of
banking groups, financial
institutions, insurance companies or
manufacturing firms, and rarely independent
companies.
France has the second largest factoring
market in the world behind the UK. It
represents 15 percent of the total market in
Europe, and 10 percent globally.
France 7.6% ; increase in volume in 2013
Volume of cross-border business grew in
2012: France, was second with a 33% growth
to EUR 2.7 billion
3. The five biggest Markets in 2010 were
respectively UK & Ireland (17.0%), France
(11.4%), Italy (10.7%), Germany (8.8%) and Japan
(7.3%).
France’s total volume is higher than for the
Americas
The Factoring Market is relatively concentrated
with the five biggest Factoring Companies in
France totaling on 87% of the National Market.
With 38% of top 5 companies being Bank
subsidiaries and 35% being Bank Divisions, it is
clear that Factoring has become highly
dominated by Banks.
The leading factor in France has à 20% market
share
4. Factoring is a solution for managing companies’ trade
receivables.
It provides them with financing which can
complement or take the place of conventional bank
facilities.
Factoring is aimed at all companies trading with other
companies or public-sector bodies, whatever their
size and sector of activity, whether or not they are
engaged in exports.
The growing need for competitiveness increasingly
emphasizes the advantages of outsourcing the
management of trade receivables, allowing better
concentration on core business, raising the quality of
services offered to customers and fulfilling
commercial objectives more effectively.
At the same time, the company’s efficiency increases
and management and production costs are reduced or
stabilised.
The factor enables receivables to be turned into cash
as they fall due and costs to be kept under control.
5. Factoring is a durable solution for the
provision of short term finance,
incorporating risk prevention, rapid
financing of receivables, monitoring, follow-
up and account management. By outsourcing
the management of trade receivables, the
company gains three key strengths:
conversion of fixed costs into variable costs;
optimised administration;
secure financial management.
Trade receivables represent on average 40%
of a company’s assets.
6. A company can benefit from the use of
factoring at each stage in its development.
In the start-up phase, financing receivables
through a factor may overcome a shortfall of
cash flow or bank facilities.
In the maturity and revenue-growth
phase, there are various reasons for using
the services of a factor: protection against
customer failures, relief from
administrative tasks or financing of growth.
7. Non-disclosed factoring with delegated
management, known as “Confidential
factoring”.The company retains full control
of the management of its receivables, and
the existence of the factoring contract is
not disclosed to customers.
8. Reverse factoring
The company (the principal) gives advance
instructions to the factor to pay its suppliers
when their invoices have been passed for
payment.
It reimburses the factor on the normal due
dates of the invoices.
9. Export factoring enables the company to
delegate the management of export
receivables.
The factor either has local companies or
correspondents, or multilingual
personnel, who are fully conversant with the
specific characteristics of international
trade.
The company’s export receivables are
guaranteed against the risk of bad debts on
the part of a customer.
10. The factor’s services are remunerated through
two main components, which are defined in the
contract with the company:
The factoring (or service) commission provides
remuneration for the management operations
The financing commission, based on a bank
reference rate, is calculated in accordance with
the amount and period of financing requested.
Factoring essentially includes the service
commission, which pays for the management
operations, and the financing commission, which
pays for the cash advance.
11. After the contract has been signed, the company forwards
duplicates of its invoices to the factor on a regular
basis, for example every week. This can be carried out
electronically or by post.
Except in the case of “confidential” factoring, a subrogation
notice supplied by the factor must appear on the company’s
invoices, and its customers are informed that they must send
their payment to the factor.
For each new customer, the company opens a purchaser
account with the factor and requests a limit up to which the
commercial transactions in respect of that customer will be
guaranteed.
Most factors offer online services enabling the company to
monitor all its operations: guarantees provided, payments
received or disputes detected by the factor, financeable
amount provided etc.
Finally, the company has a dedicated contact for all its
factoring operations.
12. To take advantage of factoring, the company
includes a subrogation notice on its invoices
and forwards copies of invoices to the factor.
By means of online services it can then
request financing and monitor its customers’
payment status.
13. The latest strategy is focused on the SME sector,
Nevertheless, they still compete for large
corporate deals, with international tailor-made
solutions.
The main change in product mix is concerned
with an increase in full factoring contracts
signed with SMEs. Larger companies seem to
have significantly reduced their inventories in
2009 and will not need extra funding before
their activities rise again.
Regarding the portfolio, invoice discounting
represents more than 50% of the turnover and
this percentage will grow further in response to
demand.
14. Banks have introduced reverse factoring in
the French product mix. This facility is still
quite new in the French market and the main
competitors only have a few clients using this
product. In 2011, it represented 1% of the
market turnover.
It is expected to grow within the next five
years to reach an average of 5% of the
volume.
15. CGA and Air France signed a factoring deal on
the 12th of December, 2012.
CGA, Societe Generale’s French factoring
subsidiary, has finalised in December a deal
to provide factoring services to Air France.
Through close dialogue and cooperation, CGA
was able to tailor their services to suit Air
France’s needs, offering non-recourse
factoring up to an agreed amount of EUR
250m.
17. Total factoring volume in EU in 2012(in
millions of EUR)
United Kingdom
France
Italy
Germany
Spain
Other EU countries
18. Despite the generally low levels of economic
growth currently evident across the EU, the
Industry continued its strong growth pattern
in 2012 to a record €1.2 Trillion. This growth
reinforces the importance of the funding
solutions for the support of SMEs, economic
activity, wider growth and wealth creation.