Poland’s listed BRE Bank wants to purchase 50 percent of Hungary’s Magyar Factor Rt., worth HUF550m, or ZL9m.
BRE already owns over 51 percent in Austria’s Intermarket Bank, which has a 50-percent share on the local factoring market. BRE’s Polish subsidiary Polfactor has the relatively weakest position among the bank’s factoring assets with only a 10-percent market share.
BRE Bank’s broad range of services offered to small and medium-sized enterprises include factoring, domestic and foreign settlements, liquidity management, electronic banking and access to financing.
Source: Rzeczpospolita/FT/BCR
