Milan, June 17, 2010 – Eurofactor Italia SpA has announced its new trademark starting from June 16, 2010. The company will be known publicly under the new brand “Crédit Agricole Commercial Finance”.
General Manager Massimo Mancini said: "By combining the Crédit Agricole name with our corporate name, we will be able to strengthen our image of belonging to one of the main banking groups in the world, thus reasserting our strategy, through various marketing and commercial initiatives, to become an important stakeholder in the Italian factoring sector, just as important as the banking group Cariparma and FriulAdria, part of Crédit Agricole Group, in our country."
“The Italian Factoring market,” continues Mancini, “is one of the most important in the world, third in volume only to Great Britain and following on the heels of France. Experience and knowledge of a specific and very competitive market, combined with financial power, the assistance and resources of one of the largest banks in the world, reflects our position that, in such a short time, we have acquired: 600 million euros worth of assigned turnover over the past 12 months and approximately 200 million euros worth of new production."
Massimo Mancini added: “We are committed to working in a partnership with our reference banking network, including Cariparma and FriulAdria, all while also maintaining an active relationship with Crédit Agricole Corporate & Investment Bank: we serve the ambitions of our regular clients while sharing their daily tasks. The new corporate brand name will help encourage a greater sharing of our group's values regarding responsibility and entrepreneurial spirit that, combined with strong ties to our banks in the area, will allow us to better sustain small and medium-sized businesses - companies that drive the Italian economy."
Crédit Agricole is the leading banking organization in France, third in Europe and ninth in the world in terms of tier 1 capital (source: The Banker 2009). Serving 59 million clients in the world and operating a network of 11,850 branches in over 20 countries, covering the full range of banking and financing activities. The group operates in 70 countries and employs more than 160,000 staff members worldwide.
Crédit Agricole Leasing & Factoring is a subsidiary of Crédit Agricole specializing in finance plans. With 20 billion euros in outstanding interests at the end of 2009, Crédit Agricole Leasing & Factoring is the leading operator in France in the leasing and factoring market. Crédit Agricole Leasing & Factoring employs 3,100 employees and operates in 12 countries, in Europe and North Africa, serving professionals, public organizations, and businesses.
More information on Crédit Agricole Commercial Finance available at: www.eurofactor.it