Poland

Polish factor signs up a big factoring contract.

Members of the Polish factors' association, PZF, recorded PLN 18.4 billion turnover in the first quarter of 2012, up by 31 per cent year-on-year.

Credit Argicole Poland Commercial Finance, new factoring provider, announces starting of operations.

Preliminary financial results from Pragma Factoring SA for the past year point to a nearly twofold increase in revenues compared to 2010.

Polish SMEs are still only marginally interested in factoring, preferring their own resources for financing

Raiffeisen Bank Poland has maintained top spot in the Polish factoring market, noting an 18 per cent increase in annual turnover to the value of almost 15.8 billion zloty.

Factoring turnover of Polish Factors Association (PFA) member companies in 2011 amounted to 67.1 billion zloty, 19 per cent higher than in 2010.

The Export Credit Insurance Corporation (KUKE), an insurance provider for Polish SMEs, has predicted that the export market in Poland will grow by 11.5 per cent in 2012, to approximately 153.7 billion euros.

Polfactor, a leading representative of the factoring industry in Poland, and part of the Group of BRE Bank, has changed its name to BRE Factoring.

GE Capital, a provider of mid-market and SME finance, has launched a factoring platform in Poland called Factoring BPH, via Bank BPH, part of the GE Capital group.