Bibby boosts business funding in Europe by a quarter
Financier sees strong year-on-year growth in funds advanced in Europe
Business financier, Bibby Financial Services (BFS), has significantly increased its support for small and medium sized enterprises in Europe over the past year, as the funder continues to grow throughout the continent.
Between January 2015 and January 2016, across all European markets in which it operates, BFS increased funds advanced by 23 per cent from €118m to €145m. Ireland (+28 per cent) and Poland (+25 per cent) saw the highest growth in funding.
BFS supports almost 2,000 businesses in Europe through operations in France, Germany, Ireland, Slovakia, Poland, Czech Republic and the Netherlands. The financier has seen solid growth in client numbers across Europe since 2007, with average annual growth of 21 per cent.
International CEO at BFS, Steve Box commented: “Our teams work hand-in-hand with our clients to tailor timely solutions for their needs. This relationship-based approach to financing businesses is the key to our success, resulting in significant growth in both client numbers and funds advanced over the past 12 months.
“When we speak to business owners, they tell us that they have a strong appetite to invest in technology and people, and our working capital funding enables them to do precisely that.
“The requirements of our clients are constantly evolving depending on prevailing market and economic conditions and currently, we are seeing more businesses seeking finance to support their export sales growth. This is particularly the case in Ireland – where exports account for around 48 per cent of total economic output - and Poland where a weak Polish Zloty is helping to accelerate export activity.”
Prior to joining BFS as European CEO in June 2015, Steve held a number of roles at HSBC where he spent 35 years, 22 of which in the Receivables Finance and Trade & Supply Chain business. Steve progressed to become European Head of Trade and Receivables Finance and eventually Global Head of Receivables.
On 1 January 2016 Steve was appointed as International CEO for BFS, taking on responsibility for operations in North America and Asia, in addition to Europe.
Steve added: “Despite varying market conditions throughout Europe, one commonality among small and medium sized businesses is their desire to grow over the coming year. We are committed to supporting them and helping them to meet this growth objective, whatever their location, size or sector.”