Germany’s VR Factorem increased its customers
last year despite the financial crisis.
The factoring business, a joint venture
between VR Leasing (which owns 74.9 percent of the company) and
France’s Natixis Factor (which owns the remaining 25.1 percent),
said the number of customers rose by 15.5 percent.
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The company’s client turnover declined by less
than 3 percent in 2009 compared to the previous year, totalling
€1.83 billion. VR Factorem said this is still much better
than the rest of the market, which fell more by than 7 percent.
VR Factorem CEO Hauke Kahlcke
said that the company has heavily focused on the customers of the
cooperative banking network (which represented over 90 percent of
its overall customers last year) under the DZ Bank umbrella, which
includes approximately 1,000 cooperative banks.
The company continues to have an “optimistic
outlook” for 2010.
Antonio Fabrizio
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