Poland

Polfactor SA and HPD Software have announced that HPD s Aquarius solution has gone live in Poland.

Pragma Factoring has purchased 173 million zl worth of receivables in the third quarter of 2011, a 59 per cent increase compared to the same period last year (102.4 million zl).

The European Bank for Reconstruction and Development (EBRD) is lending the leading Polish cooperative bank association, BPS, up to 25 million (at least 80 per cent of which will be drawn in zloty) for on-lending to SMEs and farmers via cooperative banks associated with BPS.

Pragma Factoring SA estimates that its gross sales revenue will reach 200 million zl by the end of 2011, with a 335 million zl increase next year.

SMEs and mid-cap companies in Poland are set to benefit from the European Investment Bank (EIB) lending 150 million to the Europejski Fundusz Leasingowy (EFL).

According to estimates by Pragma Factoring SA, in the first half of 2011 the company recorded revenue from sales tax of more than 81 million zl – an increase of 50 per cent compared to the same period last year.

Citi Handlowy posts a growth of the 123 per cent in the first half of 2011

Polish Association of Factors (PAF) releases semi annual market results

Central Statistical Office (CSO) of Poland observes growing popularity of factoring

Small and medium size suppliers to local administrations are increasing their use of factoring