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Factoring KB becomes a fully-fledged member of Factors Chain International

Prague, 4/29/2013

In April 2013, Factoring KB, a.s. became a fully-fledged member of the Factors Chain International (FCI) global network of factoring companies.

As of April 2013, Factoring KB’s hitherto associated membership has been changed into a fully-fledged membership enjoying full voting rights. Thus, Factoring KB becomes a third entity on the Czech market to meet FCI’s conditions for full membership. These are understood to be, in particular, provision of export and import factoring having a defined minimum annual volume, and obtaining a letter of support from several factors that are not related in terms of ownership and with which the candidate factor cooperates.

“This development is the result of the growing volume of export and import factoring deals generated within this network, and also the company’s rising profile in terms of its financial strength and market position, and, ultimately, the increasing standard of the services that we provide. I am pleased that we have been able to achieve this status in FCI. The half-open door to international trade, i.e., export and import factoring, has therefore been opened wide for us,” said Miloslav Kukla, Factoring KB Chairman and CEO.

Established in 1968 as the umbrella organisation for independent factoring companies around the world, Factors Chain International (FCI) has grown into the world’s largest factoring network with 266 factors in 73 countries. Candidates of membership must meet stringent criteria in terms of their strong financial position and their commitment to maintain the high service standards. Members communicate via a standard electronic system and accede to a shared global code of ethics. With a central office (“Secretariat”) in Amsterdam and with close co-operation with its member companies from different continents, FCI has a truly global reach.


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