Press Releases - BFF Banking Group
News & Media
Athens, 4 June 2020 – BFF Banking Group – the leading European financial services provider to suppliers of the Public Administrations – announces that it has received the authorizations from the Bank of Italy and the Bank of Greece to open its branch in Greece.
The new branch in Athens – which is expected to be opened and fully operational in Q3 2020 – will provide companies with even more effective solutions for managing their credit exposures towards the Greek public sector and the national healthcare system.
BFF Banking Group has been supporting Greek customers since 2017 under the freedom of services regime, has purchased more than €100 mln of receivables and is the only factoring company specialized in public sector receivables operating in Greece.
“Opening the branch in Greece delivers fully our expertise in factoring services to the local market, supporting the suppliers of the public sector in optimising their working capital, especially in post-Covid-19 world” – said Michele Antognoli, VP International Markets, BFF Banking Group. “In Greece, factoring volumes represent c. 7% of the GDP while in other European countries, the market penetration can reach up to 10%-12% of GDP. The penetration of the product within the public sector suppliers is even lower. Our new branch is also a response to this unmet need and will ultimately ease the relationship between the corporate worlds and the Greek public administrations”