Deutsche Factoring Bank opens new office in Stuttgart to serve Baden-Württemberg and Switzerland
With immediate effect, the Deutsche Factoring Bank is now represented by its own sales office in Baden-Württemberg. The Bank, a member of the Sparkassenorganisation, is one of the leading factoring institutes in Germany. The direct contact person in Baden-Württemberg is Axel Walter whose office is located in Stuttgart. Mr Walter has extensive background experience in the factoring field, and in addition to the Baden-Württemberg region he is also responsible for Switzerland.
“In 2010 we expect a noticeable increase in the demand for factoring services,” says Dr. Karl-Joachim Lubitz, Spokesman of the Bank’s Management Board. “Many small and medium-sized enterprises are currently experiencing difficulties obtaining additional funding. However, if they take advantage of factoring, they can tap additional sources of liquidity which, for example, may be used to finance growth, business reorganization or business succession. At the same time they can also safeguard their receivables against non-payment.” Against this background, in the first quarter of 2010 the Bank posted a 26 percent increase in revenue compared to the same period last year.
The Deutsche Factoring Bank thus has a nationwide, decentralized sales network in Germany. Apart from its headquarters in Bremen and the new office in Stuttgart, the Deutsche Factoring Bank has offices in Bielefeld, Dusseldorf, Frankfurt/Main and Munich.
Stuttgart contact details: PO Box 13 09 53, 70067 Stuttgart
Telephone: +49 (0)711 27310330 | E-Mail: axel.walter@deutsche-factoring.de
Background
In the factoring business, companies sell trade receivables to the factor before they are due. The factor safeguards the liquidity of their clients by immediately crediting them after invoicing with the open accounts receivables. In return, the factor charges a customary bank interest rate together with a fee for the service rendered. The Deutsche Factoring Bank is one of the leading institutes of the branch, and is part of the Sparkassen-Finanzgruppe.
For more information, please contact:
Dr. Karl-Joachim Lubitz
Telephone: +49 (0)421 3293-190 | E-Mail: karl-joachim.lubitz@deutsche-factoring.de
Langenstraße 15-21, 28195 Bremen | www.deutsche-factoring.de
