An agreement to help Ubi Banca's business customers recover the credits accumulated in their international activities. This is the meaning of the partnership signed by SACE SIMEST, the export and internationalization pole of the Cdp group, and Ubi Banca: the Lombard bank's client companies will now be able to rely on SACE SIMEST professionals and a network of 200 correspondents and negotiators local, spread all over the world, which will work on the basis of a structured tariff a success fee and will manage the various phases of the out-of-court and judicial activity for the recovery of credits, from the negotiation of restructuring agreements for the financial exposure of corporates and banks, to repossession e remarketing of guaranteed supplies abroad.
“SACE SIMEST – he commented Valerio Ranciaro, General Manager of SACE SRV, pole company specializing in debt collection and information asset management services - has consolidated experience and in-depth knowledge of emerging markets outside Europe, often characterized by a complex regulatory framework that makes debt recovery complicated, especially by an SME that is not structured for such activities. This is why it is essential to rely on a partner like SACE SRV, who is able to intervene quickly and effectively even in the most complex situations".
“Businesses – he added Frederik Geertman, Deputy General Manager and Chief Commercial Officer of UBI Banca – who decide to expand into foreign markets need partners, including financial ones, with whom to build a solid alliance for growth. The agreement with SACE SIMEST aims to further expand the range of services that the UBI Group offers to companies engaged in internationalization processes, also supporting them in different and complex regulatory contexts that can slow down development plans”.
With the majority of export transactions concluded via deferred payments, more and more exporting companies run the risk of non-payment. The unknowns increase when dealing with counterparts in emerging markets which, while often offering excellent business potential, are little known and more subject to instability and exogenous shocks. An adequate set of tools to protect themselves and deal with difficulties is therefore essential for companies that want to pursue growth on international markets, and in particular in emerging geographies which, in the face of higher levels of criticality, present greater potential. A parachute and solution of last resort, debt collection is essential to positively resolve already compromised situations that expose the company to financial tensions, especially SMEs.
