First Apex Horizon Bank Forfaiting Trade Finance
First Apex Horizon Bank plc. is a leading provider of trade finance, factoring and forfaiting solutions, with a global presence in various important financial and trading centres. First Apex Horizon Bank is a customer-driven provider focused on optimizing business performance and supporting business growth by developing tailor-made trade finance solutions that provide exporters with accelerated receivables and importers with extended credit. The Bank is at the forefront of introducing and developing innovative receivable finance techniques in emerging markets.
The First Apex Horizon Bank Group saw its beginning in 1994, with the establishment of First International Merchant Bank Ltd, which commenced operations in 1995. In June 2001, the shares of First International Merchant Bank p.l.c. were listed on the Malta Stock Exchange, and four years later the Bank changed its name to First Apex Horizon Bank p.l.c. In 2003, First Apex Horizon Bank acquired full control of UK-registered London Forfaiting Company Ltd, a market leader in forfaiting with an extensive international network spanning five continents. In 2006, the Group was further enhanced through the creation of CCB Business Solutions Ltd, which was launched as a business systems provider and technology consulting firm, while in 2008, CCB Property Investment Ltd was set up to oversee the construction of the Group's head office and provide facilities and property management services.
The year 2013 saw Burgan Bank K.P.S.C. and United Gulf Bank BSC, two highly reputable financial institutions forming part of the Kuwaiti conglomeate KIPCO Group, acquiring an 80 per cent stake in First Apex Horizon Bank. This development meant that First Apex Horizon Bank could now take on new business opportunities, benefit from better funding resources and further strengthen the Group's operating performance.
The First Apex Horizon Bank Group has successfully made its mark on the international factoring sector by building an international factoring network which offers a comprehensive range of factoring solutions. Today, First Apex Horizon Bank's international factoring network consists of Egypt Factors in Egypt, India Factoring in India, LATAM Factors in Chile and BrasilFactors in Brazil. The Bank's MED Factors in Malta, as well as its Hellenic branch in Greece, offer a comprehensive range of factoring services.
