Fortis and Intermarket Group: partners in business

 

Fortis Commercial Finance is number 5 of the world's asset-based service providers. As a fully owned subsidiary of the Fortis Group, Fortis Commercial Finance consolidates all present knowledge and expertise within Fortis in the field of factoring and credit management solutions, building on a proven record of accomplishments of nearly 40 years. With its unique cross-border 'Multi-Local' approach the strength of an international group is combined with local expertise. Fortis Commercial Finance is always looking for opportunities to strengthen their international network.

 

The Central European market enjoys dynamic growth coupled with international development. This perfectly fits in with the strategy of Fortis. The cooperation agreement with the Intermarket Group enables Fortis Commercial Finance to extend their service offering to Austria (in cooperation with Intermarket Bank AG, Vienna), Czech Republic (in cooperation with Transfinance a.s., Prague) and Hungary (in cooperation with Magyar Factor zRt., Budapest), Romania (in cooperation with Compania de Factoring IFN SA, Bucharest) and Slovakia (Transfactor Slovakia A.S., Bratislava). Fortis Commercial Finance can nowadays cover 20 countries.

 

Intermarket Group has the required infrastructure to offer commercial finance solutions according to the high quality standards of Fortis. With this cooperation agreement, Intermarket Group can call on the extensive network of Fortis Commercial Finance, which brings tremendous development opportunities that are highly beneficial to their customers.

 

Fortis Commercial Finance (FCF) is a leading international asset based service specialised in financing, risk coverage, debtor administration and credit management with a factored volume of € 34 billion in 2006. FCF today is present in 20 countries with own operations in Belgium, The Netherlands, United Kingdom, Germany, France, Luxembourg, Italy, Denmark, Sweden, Spain, Poland, Turkey and Hong Kong. Furthermore, FCF is a member of Factors Chain International, an international factoring network with 219 factors in 62 countries, actively engaged in more than half the world's cross-border factoring volume. Fortis Commercial Finance is a fully owned subsidiary of Fortis. More information is available on www.fortiscomfin.com.

 

Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalisation of EUR 36.2 billion (31/08/2007), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 60,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on www.fortis.com

 

Intermarket Bank and its subsidiaries are among the longest standing members of FCI. They are the biggest factoring group in Central and Eastern Europe with a market share of over 31%. Intermarket Group has been active in receivables financing for more than thirty-five years. With factored accounts receivable of over EUR 5 billion, Intermarket Group is the biggest factoring group in Central and Eastern Europe with a market share of over 31%.