FIMBank plc - Increased shareholding in Factoring JV

Thursday, February 20th, 2014

On 20 February, FIMBank plc announced that its fully-owned subsidiary, FIMFactors (the holding company of the factoring joint ventures and associated companies), has acquired a further 40% shareholding in CIS Factors increasing its stake to 80%. CIS Factors in turn owns a factoring business in Russia referred to as FactorRus. The remaining 20% is still held by International Finance Corporation (IFC) which forms part of the World Bank Group.

This acquisition forms part of FIMBank’s Group strategy to further develop and strengthen its  international network in the factoring business.

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