Some important stepping stones over the past 50 years paved the way to the creation of BNP Paribas Commercial Finance - a European market leader for Invoice Finance and Working Capital Solution in terms of geographic coverage, turnover and revenue.
Creation of IFITALIA, the first-ever Italian factoring company, by Banca Nazionale del Lavoro (BNL). IFITALIA joined BNP Paribas in 2006.
Founding of KEFAM in Belgium, a predecessor of Fortis Commercial Finance.
Creation of Belgo-Factors N.V. in Belgium, making KEFAM a holding company.
BNP creates BNP Factor Portugal IFIC SA. Foundation of FMN Belgium and FMN France.
Creation of BNP Factor in France, as a result of the merger of the factoring activities of BNP and Universal Factoring.
Creation of TEB Faktoring in Turkey, a subsidiary of Türk Ekonomi Bank designed to provide domestic and export factoring solutions. The company joined BNP Paribas in 2005.
Creation of Fortis Bank by merger of CGER-ASLK with Générale de Banque. Creation of FCF Holding grouping FMN Finance House, Belgo-Factors, Generale Bank Factors and ACE Factors.
Creation of the BNP Paribas Global Factoring Competence Centre in Brussels following the merger of BNP Paribas and Fortis, tasked with the coordination of all factoring activities within BNP Paribas.
Acquisition of International Trade Partners, a specialist in commercial debt management.
BNP Paribas acquired Fortis Commercial Finance and became the European leader in factoring.
BNP Paribas Factoring becomes the overall brand name for our global Factoring business.