HSBC Bahrain said yesterday it hosted its Trade Academy session on factoring solutions for small enterprises, middle market firms to multinational corporations in the Kingdom.
This is the seventh in the series of sessions organised by the bank as a part of its Trade Academy global initiative aimed at sharing trade related information with the bank's corporate clients.
Mark J. Bessant, Regional Head of Factoring and Venu V. K., Senior Manager, Factoring ME, discussed the mechanics and benefits of using factoring as well as various factoring products.
"This demonstrates our commitment to helping our customers' businesses grow.
HSBC has a particularly strong track record and proven expertise in the fields of factoring and receivables finance," said Jafar A. Amin, Head of Global and Commercial Banking, HSBC Bahrain.
The bank was awarded the 'Best Factoring Institution' by the Trade Finance Magazine for seven consecutive years.
"Account receivables can be the single largest non-performing asset for a business and therefore converting that into a performing asset has never been more important," Bessant said.
"Many companies in the current environment offer credit terms to their buyers to grow their business and this may often lead to working capital shortages that can be funded through factoring or receivable financing by financing this hidden asset."
© Bahrain Tribune 2010
