LIVERPOOL-BASED Bibby Financial Services has reported strong progress, despite the financial downturn.
The global operator, which is part of the Duke Street-based Bibby Group, provides funding for small and medium-sized businesses and has reported a 24% rise in new deals and a 16% growth in client numbers in 2009.
Recent figures claim up to six in 10 small firms seeking loans are being turned away by mainstream banks and Bibby Financial Services global chief executive David Robertston said its responsive approach to clients in what has been “some of the most harrowing trading conditions of the last half century” helped its performance.
“Remaining focused on this ethos has meant that we have negotiated our way through a difficult time for both us and the businesses we work with.
“Certainly, some of our regions have felt the impact of the downturn more than others, coupled with market-place attrition and domestic banking failure.
“But I am very proud of the position we have achieved and the high level of customer service delivered to clients”
The firm has a network of 16 operations in the UK and Ireland, and companies in Poland, France, Germany, the Czech Republic, Slovakia, USA, Canada, Australia and India.
Year-on-year new business levels rose 24%, bringing its total client base to 4,738, which was an increase of 16% on the previous year, leading to a group profit of £19m.
The UK business ended strongly with one-in-six new deals in the market landed by Bibby Financial Services, resulting in an increased domestic market share of 8.1%.
And with GDP figures rising in the fourth quarter, signalling an end to recession in the UK, the firm confirmed it is now supporting a historically high number of small and medium-sized firms across a variety of industry sectors.
It also announced a commitment to further expand its presence in Asia- Pacific, with the appointment of Ian Watson as chief executive in the region, whose aim is to capitalise on potential opportunities for small and medium-sized businesses.
Mr Robertson added: “We will continue to progress our already strong position within the global factoring marketplace, and look forward to the rest of 2010 and the future in terms of driving increased market share and our global aspiration to become the world’s largest independent factoring company.”
