There appears to be no sign of a let up in the growth of
Poland’s asset finance market with the announcement today that
leasing and factoring specialist, Factor in Bank, saw a massive
increase in new business in 2007.
New factoring business at Factor in Bank, a subsidiary of
Poland’s Getin Bank, grew last year by 82 per cent year-on-year to
reach €216.8m.
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Poland remains an attractive place for international lessors,
with ING Lease’s local leasing business last year reporting an
approximately 500 per cent hike in new business, and Fortis
Commercial Finance showing interest with its acquisition in late
2006 of 4 Faktor, a polish factoring company.
Last year the Polish Association of Leasing Companies predicted
that the total value of deals by year end 2007 would reach PLN 32bn
(€8.7bn), a 56 per cent increase year-on-year.
At the time of this announcement Credit Agricole’s Polish
business, EFL, occupied top spot in the country’s leasing market
with a portfolio worth PLN 2.7bn (€738m), followed by Raiffeisen
Leasing Polska with PLN 2.4bn (€656m), and then
Commerzbank-controlled BRE Bank’s leasing business with PLN 2.2bn
(€601m).
Factor in Bank is Poland’s first factoring company and provides
services to SMEs.
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