FIMBank plc - Increased shareholding in Factoring JV

On 02 April, FIMBank plc announced that its fully-owned subsidiary, FIMFactors (the holding company of the factoring joint ventures and associated companies), has acquired a further 30% shareholding in India Factoring and Finance Solutions Private Limited thereby increasing its stake to 79%. India Factoring and Finance Solutions Private Limited is a factoring business in India. The remaining 21% is held by Banca IFIS, Blend Financial Services Limited and India Factoring Employees Welfare Trust.

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