Czech Republic

Personnel changes took place in Factoring Ceske Sporitelny on 1 February 2008.

The factoring market represented by the Association of Factoring Companies recorded a growth of total turnover by almost Czk15bn and reached Czk135bn in 2007.

Factoring Ceské sporitelny reported a turnover from the assigned receivables and other supplementary products of CZK3,1bn.

The process was formally finalized for entry of Delcredere SA and SACE BT SpA into KUP as a part-owner and strategic partner of EGAP.

Bankruptcy numbers will decrease slightly to an estimated 1,250 cases this year but should remain unchanged in 2008.

Factoring Ceske has introduced a new service that enables clients to speed up the financing of assigned receivables and decreases the admin burden.

Factoring companies financed the purchase of claims worth Kc90.6bn in the first nine months, up 20% on a year ago.

 

Komercni banka, a.s. (KB) has sold 518 shares of the special fund Protos, uzavreny investicni fond, a.s. to the company Factoring KB, a.s.

 

The volume of factoring claims of the firm Factoring KB grew by 17% to Kc2.9bn.

CSOB Leasing announced a rise in its volume of leasing by 15% year-on-year in the first half of 2007.