26 Sep 2017
BFF Banking Group completed the first acquisition of a portfolio of credits towards public hospitals in Greece
The transaction, for an amount of €10 million, expand the international growth strategy and the pan-European footprint of the Group

BFF Banking Group (BFF), the leading player in Europe in the management and non-recourse factoring of receivables towards the Public Administrations, has completed today the first acquisition of receivables in Greece.

Banca Farmafactoring S.p.A. has acquired a portfolio of invoices, in the amount of €10 million, towards approximately 100 hospitals and healthcare providers in Greece.

This deal represents the first transaction completed in Greece, where the Group operates in freedom of services. Greece is the seventh market currently covered by the Group, together with Italy, Poland, Czech Republic, Slovakia, Spain and Portugal.

“We are very pleased with today's transaction, which is part of our strategy to expand in the international markets where public spending and payments cycle dynamics are functional to our business model. This deal, where the counterparty is a client of the Group in other European countries, confirms the Bank’s leadership in providing credit management services and working capital solutions to public sector suppliers, with a pan-European reach” - commented Massimiliano Belingheri, CEO of BFF Banking Group.