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HomeNewsBusinessBFS declares intentions to start a European Marine Finance company in 2023

BFS declares intentions to start a European Marine Finance company in 2023

Bibby Financial Services (BFS), a global SME financier, recently revealed plans to establish a European Marine Finance company in 2023 as part of an effort to increase support for SMEs by fusing its history in shipping, financial expertise, and environmental aspirations.

The expansion of our support for SMEs globally is a crucial component of our BFS 4.0 strategy, according to Bibby Financial Services CEO Jonathan Andrew. This journey’s key growth, BFS Marine Finance, allows us to combine our primary goal of assisting SMEs with our history in shipping as a member of the Bibby Line Group.

In order to assist the purchase of a range of marine assets, BFS Marine Financing will debut in Q1 2023 and build on the company’s expertise in asset finance, invoice finance, and FX.

The new company would finance commuter, wind-farm servicing, coastal, tug, and barge ships and vessels valued between £1 million and £10 million.

We’re quite delighted to be a part of a 215-year-old family-owned business, Jonathan Andrew continued. BFS Marine Finance supports the offshore wind energy industry and promotes growth in low-emission logistics, playing to both our core competencies and our desire to become even more sustainable as part of our Compass programme.

BFS’s offices in Europe and Asia service around 9,000 SME clients. It is a member of the Bibby Line Group, a multifaceted, global company with operations in several nations and a workforce of about 1,300 coworkers worldwide.

“This new business nicely complements our existing strengths across invoice finance, asset finance, and FX, enabling us to better support SMEs across Europe, promote international trade, and improve our contribution to local and national economies,” the company said.

News Summary:

  • BFS declares intentions to start a European Marine Finance company in 2023
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