Nicosia, Cyprus. Ellinas Finance Public Company Ltd announced on Tuesday that it has been admitted as an affiliate member of FCI, an international network for factoring and trade receivables finance. The company said the move strengthens its position in cross-border trade finance.
FCI membership and cross-border factoring
Ellinas Finance, which is listed on the Cyprus Stock Exchange’s regulated market, said its admission will enhance its ability to support cross-border factoring transactions through access to FCI’s framework and international correspondent network. The company said the development is expected to strengthen its export factoring offering and facilitate structured trade finance solutions for Cypriot businesses engaged in international trade.
Business profile and financing activity
The company said it has more than 30 years of experience in alternative financing services and has provided more than €300 million in financing to households and enterprises to date. It also said it currently finances more than €20 million in invoices annually.
Export factoring footprint
Ellinas Finance said export factoring represents about 35 per cent of its factoring portfolio, supporting trade flows to Greece, the European Union, the United States and the Kingdom of Saudi Arabia.
Strategic initiatives and disclosure
The company said the FCI admission is part of its ongoing strategic development initiatives, including a planned launch of a new digital financial platform integrating lending, factoring, microfinancing and payment services. It also said it will continue to update the investing public on material developments in line with its regulatory obligations.
What impact do you expect the company’s FCI membership to have on trade finance options for Cypriot businesses?
