SBI Global Factors Limited Information

SBI Global Factors Limited (SBIGFL) is the only provider of Export Factoring and Domestic Factoring services under one roof in India. SBIGFL has established itself as a market leader in Export Factoring providing value added service to its clients. SBIGFL is headquartered in Mumbai with six regional offices - one each in New Delhi, Bangalore, Chennai, Hyderabad, Ahmedabad and Kolkata. SBIGFL aims to be the premier export and import solution provider in India offering professional quality services on an e-commerce platform. SBI Global Factors Limited (SBIGFL) came into being as a result of merger of SBI Factors & Commercial Services Pvt. Ltd with Global Trade Finance Ltd (GTF). GTF was promoted as a joint venture by Export Import Bank of India (Exim Bank), West LB, Germany; and International Finance Corporation (‘IFC”), Washington (the private sector arm of World Bank). In March 2008, State Bank of India acquired the equity stake of Exim Bank, FIM Bank, Malta, and IFC, Washington and thus held 92.08% stake in the GTF. SBI Factors and Commercial Services Private Limited, was promoted by SBI and its associates jointly with SIDBI & Union Bank of India in February 1991. Its merger with GTF was approved by the Hon’ble High Court, Mumbai on 15/01/2010.The merged Company was renamed as SBI Global Factors Ltd. with effect from 23/03/2010. Post Amalgamation, State Bank of India holds 86.18% stake in SBIGFL. Remaining 13.82% is held by SIDBI, Bank of Maharashtra and Union Bank of India. SBIGFL is a member of Factors Chain International, a global association of international factoring companies. Established in 1968, FCI has played a major role in bringing factoring into most countries.