Galicia's main competitor in the Argentine factoring business is HellerSud SA, a joint venture between Fuji Bank Ltd . unit Heller Financial Inc . and Banco Bansud SA, an Argentine bank.
12.
Cushnie was born in factoring business, effectively providing loans to manufacturers by buying their merchandise after a sale had been agreed to another company but before they had been paid for it.
13.
Bank of New York Co ., New York, said its BNY Financial Corp . unit would acquire the domestic factoring business of Midlantic Commercial Co ., a division of Midlantic Bank, which was recently acquired by PNC Bank Corp . Terms were not disclosed.
