Eurofactor was founded in 1988 and has its head office in Oberhaching near Munich. The sole shareholder is Crédit Agricole Leasing & Factoring S.A., that is part of the major French bank Crédit Agricole S.A. The company is independently managed, but has the full support of the group for its ambitious plans.
The equity of Eurofactor sums up to 104.7 million Euros.
The business year 2016
Eurofactor achieved again a positive result in profit after tax in 2016. The factoring turnover resulted in a total of 17,195 million Euros, which is a decrease of 4.4% compared to the previous year due to - among other reasons - optimizations of the portfolio. Eurofactor remains among the top factoring companies in Germany, in national and international factoring business. In import factoring, Eurofactor is in the top position in Germany and ranks among the leading factoring providers worldwide.
History of the company
Today's Eurofactor GmbH stems from the German subsidiary of Security Pacific Eurofinance Inc. which was founded on March 6th 1987 with head office in Frankfurt.
At the beginning of 1988 the company started its factoring activities – the purchase of receivables resulting from trade receivables and services as well as all business transactions being related to factoring – together with managerial consultancy regarding financing, data processing and dunning and collection procedures. In the same year the company became a member of the German Factoring Association.
In February 1989 the company moved to Munich.
At the beginning of 1991 the Limited Company (GmbH) was fully taken over by the French Crédit Lyonnais Group and the company’s name was changed into CL Factoring GmbH. In 1991 CL Factoring GmbH became a member of the International Factoring Association “International Factors Group”.
Together with the merger of Société Lyonnais d’Affacturage (SLIFAC), subsidiary of the Crédit Lyonnais Group, and Société Francaise de Factoring (SFF), subsidiary of the Euler Hermes Group on January 1st 2000 both merged companies changed the company’s name into “Eurofactor Group”. Subsequent to this change CL Factoring GmbH changed its company’s name into Eurofactor GmbH in March 2000.
In May 2001 Eurofactor GmbH was transformed into a corporation and the company’s name was changed into Eurofactor AG.
In December 2004 and in June 2005 Crédit Agricole S.A. took over from Euler Hermes and from the Crédit Lyonnais Group the shares of Eurofactor S.A., holding 99.99% of Eurofactor's equity. In October 2005 both factoring companies Transfact and Eurofactor were merged into Eurofactor S.A., which became the largest factoring company in France and one of the leading factoring companies in Europe.
In 2005 Eurofactor joined membership of the worldwide largest International Factoring Association: Factors Chain International.
In October 2006 Eurofactor opened a customer and sales centre in West Germany.
In 2007 Eurofactor received the Top Job Award as one of the 100 best employers of medium-sized companies.
Since 1998 Eurofactor was awarded six times in a row “Import Factor of the Year” and “Export Factor of the Year” by the International Factors Group, in 2008 was the last time Eurofactor received this award.
In 2008 Eurofactor was nominated as “Client Champion” among Germany’s 100 most client oriented companies.
In 2009 Factors Chain International awarded Eurofactor AG for the first time “Import Factor of the Year”.
Since 2009 Eurofactor is a member of the Association for Foreign Banks in Germany as well as of the Federal Association for Medium-sized Companies.
In March 2010, the general shareholders’ meetings of Crédit Agricole Leasing and Eurofactor approved the formation of Crédit Agricole Leasing & Factoring. CA Leasing & Factoring is a subsidiary of Crédit Agricole and the only shareholder of the Eurofactor Group.
In June 2010 Eurofactor was awarded as "Import Factor of the Year" for the second time by the members of the Factors Chain International. Eurofactor AG won also the the combined FCI title "Export & Import Factor of the Year" for the best overall performance.
In October 2011 Eurofactor was awarded for the third time in a row as "Import Factor of the Year" by the members of the Factors Chain International. Eurofactor was also voted by the International Factors Group as "Export Factor of the Year".
In 2013 Eurofactor celebrated its 25th anniversary.
In June 2013 Eurofactor was awarded in Athens as Import Factor of the Year for the fourth time by the members of the Factors Chain International achieving a never before reached excellence rate of 99.9% for the quality of its import factoring services.
As of July, 1st 2013 Eurofactor has integrated its Belgian sister company Eurofactor NV-SA as a new branch. All existing activities of the former Eurofactor NV-SA will be continued by the new Belgian branch, under the name of »Eurofactor Benelux, a branch of Eurofactor AG«. In correspondence with this merger the capital of Eurofactor has been increased in March 2013 to further strengthen its equity basis. The equity of Eurofactor has been raised from 73.5 million Euro to 87.3 million Euro.
In June 2014 Eurofactor was awarded in Vancouver as Import Factor of the Year for the fifth time by the members of the Factors Chain International confirming the outstanding result of the previous year: an excellence rate of 99.9% for the quality of its import factoring services.
On 1st of october 2014 Eurofactor established a new sales office in the heart of the banking city Frankfurt am Main within the premises of the sister company Crédit Agricole Corporate and Investment Bank (CA-CIB).
In December 2014 the equity of Eurofactor was increased up to 104.7 million Euros.
In July 2015 the legal form of Eurofactor AG has been changed, the new company's name is Eurofactor GmbH.
In January 2016 Eurofactor GmbH founded a new Dutch branch; Eurofactor Nederland located at Hertogenbosch.
In December 2016 the Belgian branch Eurofactor Benelux was renamed into Eurofactor Belgium.