ETRIS BANK
Remaining close to the customer, a competent partner for SMEs and with a comprehensive range of services – that is the ETRIS BANK. Our goal: to preserve and promote entrepreneurial freedom and thus secure the long-term future viability of our clients.
Banking services: The ETRIS BANK creates added value and continues expansion course
With a comprehensive range of services, the whollyowned E/D/E subsidiary ETRIS BANK accompanies the buying association as a reliable partner and competent point of contact in matters of finance and commodities. Proximity to the customer, outstanding financial expertise and years of industry experience in the industrial B2B sector and wholesale create unique added value. The key goal pursued by the ETRIS BANK is to maintain customers’ entrepreneurial autonomy, and so to secure their future in the long term. With the appointment of Uwe Müller as Chairman of the Executive Management as of 1st October 2022, the Supervisory Board has strengthened the bank’s strategic orientation and the chosen expansion course of this financial institution. ETRIS BANK’s solid and future-oriented business model was once again recognised by the renowned rating agency GBB-Rating with the credit rating “A+ stable”.
In 2022, the economic framework was again challenging and characterised by a host of uncertainties. Across the industry, supply chain issues, inflation, the interest rate turnaround and the impact of the war in Ukraine led to major uncertainties. E/D/E members defied this environment and developed stably – and for the most part are on a growth course.
Last year, the financial institution was able to significantly increase its business volume in two strategic areas, in particular, and even to exceed its ambitious growth targets for 2022: central payment for buying associations and factoring. With the systematic and consistent expansion of these areas, the bank is increasing its independence, contributing to the future viability of the entire E/D/E Group and creating security within the association.
Factoring is part of ETRIS BANK’s product portfolio alongside traditional banking services. With this contemporary range of services, the bank provides its clients with an important instrument for financing growth and hedging risk. The growth of the German factoring market continued in 2022. The factoring volume processed by the ETRIS BANK in the financial year amounted to EUR 499.7 million. This growth shows that factoring is becoming considerably more attractive for SMEs, because demand is increasing within the Group, especially against the background of current developments and upcoming challenges such as the ongoing energy crisis.
In addition, other buying associations chose ETRIS BANK as their central payment partner, meaning that this area of business was able to be further expanded. The business volume in central payment for third-party buying associations rose to EUR 1.46 billion. With the takeover of central payment operations for the electrical wholesale cooperation MITEGRO, we have invested in a modern technical infrastructure adapted to MITEGRO’s needs, which handles the high volumes and complex processes and ensures the scalability of the business process.
The ETRIS BANK has been a member of FCI (Factors Chain International) since June 2022. With almost 400 member companies in 90 countries, FCI is the only world association in the factoring sector. With this membership, the ETRIS BANK underscores its international alignment.
Despite all the continuing uncertainties at a macroeconomic level, the ETRIS BANK will continue its positive development and the expansion course it has embarked on in 2023. With its full banking licence, it can continue to offer its customers added value compared to non-banks in the financing sector. Our customer proximity allows us to offer requirement-based services, with which we will continue to be a valued partner for our customers in future, staying true to our slogan: “We do business together”.