ITFA launches India and South Asia Regional Committee

More than 70 delegates attended a reception in Singapore on 6th June to mark the inauguration of ITFA’s new India and South Asia Regional Committee.

The attendees represented the major banks and forfaiting houses in the region, most of which are based in Singapore. The new Committee’s chairman, Unicredit Singapore’s Charles Brough, comments that to run an event attended by 70 people on a Friday evening was “quite an achievement.”

“This demonstrates that more and more people are interested in forfaiting,” says Brough. “Forfaiting is expanding in the region and is now a mainline product in many banks. There are good profits to be made in forfaiting here as margins are expanding and quite a few of the banks have now established dedicated forfaiting units.”

ITFA Chairman Lucio Matassoni, Board Members Paolo Provera and Norbert Fritsch, and David Lilley, Chairman of the Northern European Regional Committee, attended the event.

Lucio Matassoni commented, “This is fantastic for forfaiting. The economies of India and a number of other countries in South Asia are growing rapidly and the forfaiting product is playing its part in supporting and fuelling this growth. That we had so many attendees at the launch party demonstrates just how relevant forfaiting is and how many financial institutions are embracing the product there.”

The India and South Asia Regional Committee is comprised of three members, Rakshith Kundha of ICICI Bank, Yip Wai Har of Natixis, and Charles Brough of Unicredit. For further information please e-mail: charles.brough@apr.unicreditgroup.eu , rakshith.kundha@icicibank.com or wai-har.yip@ap.natixis.com