Falcon Group’s profits double as liquidity crisis creates opportunities for alternative financiers

New business opportunities created in Europe during the withdrawal of traditional bank lenders from the trade finance sector helped alternative financier Falcon Group double its profits in 2012, chairman Kamel Alzarka told Metal Bulletin.

After posting net profits of $27 million in 2011, the Dubai-based group recorded a strong increase in profits last year as it expanded in the European market, offering finance to companies that had seen lines with banks cut or pulled completely, Alzarka said ahead of the publication of the company’s annual results. Falcon Group, which was established in 1996, has also seen strong growth in recent years in its traditional business serving clients in emerging markets. It has averaged a 40% return on equity in...

Published

Mark Burton

March 01, 2013

17:30 GMT

London