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Eurofactor establishes new subsidiary in Italy

The Eurofactor Group, a receivables finance company and a wholly owned subsidiary of Credit Agricole, has established its new subsidiary in Milan, Italy, to strengthen its European coverage.

Eurofactor’s new subsidiary complements the Credit Agricole Group’s existing presence in Italy, based around the Cariparma Friuladria Group.

Chaired by Jean-Francois Phan Van Phi, the subsidiary’s board of directors includes representatives of Eurofactor and the banking networks of the Credit Agricole Group.