Bibby Financial Services grows client turnover by 32%

Bibby Financial Services has seen global client turnover grow by almost a third year-on-year.

Client turnover, or debts factored, increased by 32% from £1.8bn in Q2 2020 to £2.4bn in Q2 this year.

In H1 2021, the lender’s monthly client turnover grew by 30% from £700m in January to £900m in June.

Jonathan Andrew, global chief executive at Bibby Financial Services (pictured above), said: “In recent months, we’ve seen strong growth in SME turnover, reflecting increased activity among businesses around the world. 

“Across all of our markets, customers are telling us that sales volumes are starting to bounce back as restrictions have lifted throughout the first half of the year, and this reflects a significant economic boost for SMEs and their supply chains. 

“While the pandemic is not yet over, SMEs are undoubtedly more optimistic than they were at the beginning of the year, and many businesses are now looking for sources of flexible funding to facilitate growth.” 

Bibby Financial Services continued to help new and existing customers trade internationally and domestically throughout the pandemic following the appointment of a new senior leadership team, the development of its BFS 4.0 strategy, and a refreshed focus on strategic partnerships. 

It also launched announced a £300m pandemic recovery fund in April, which can be accessed by new and existing SME clients through the lender’s invoice finance products.

“We’re now more customer-centric and focused on building genuine partnership and collaboration, and this shift is undoubtedly bearing fruit in our performance,” Jonathan added.

“Around the world, we have high levels of customer satisfaction, engaged colleagues, and innovative products; it’s a hugely exciting time for the business. 

“With our new strategy driving us forward and funding available, we’re well placed and ready to help more SMEs grow and thrive as the global economy continues to recover.” 

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