BGŻ BNP Paribas Faktoring is one of the Top Three Factors in Poland
BGŻ BNP Paribas Faktoring kept on growing in each consecutive quarter. In the rankings published by the Polish Factors Association (PZF), it advanced from seventh place to the top three at year’s end. The Company’s turnover exceeded PLN 18.6 B, which translated into a staggering 52-percent increase versus the value of invoices financed in 2016. The pace of the Company’s growth is also impressive when compared with the market. As reported by Polish Factor Association in a press release published in February 2018, the value of accounts receivable purchased by Factors in 2017 went up by 17 percent. Their turnover came to almost PLN 185 B.
“The closer we get to the top of the ranking, the harder it becomes to deliver great results. Which makes us all the happier that we have managed to stay on course and consistently implement our strategy. We owe our success not only to the continuous development of IT tools or process automation, or to our professional staff, but first and foremost to a good product offering, which we are constantly expanding to meet the needs of both large corporations as well as small and medium enterprises” says Paweł Bryła, President of the Management Board of BGŻ BNP Paribas Faktoring.
“Consequently, the Company’s clients can choose from a wide variety of products, ranging from traditional factoring to structured products, including import/export products, policies and cross-border solutions offered in cooperation with Bank BGŻ BNP Paribas. The portfolio also includes a hybrid product, i.e. the Progressive Line – a tool for financing trade payables secured by receivables. It should be emphasised that the international BNP Paribas Factoring Group has also recorded impressive growth. In 2017, its turnover exceeded EUR 154 B, having grown by 10 percent” highlights Paweł Bryła.
“We are also successively expanding our client base, which means an increasing number of debtors. However, the effective operation of BGŻ BNP Paribas Faktoring is not only evidenced by figures reflected in rankings. In 2017, the Company carried out a satisfaction survey among its clients, and the results were excellent. According to the survey, conducted in November by GFK Polonia, 9 in 10 BGŻ BNP Paribas Faktoring clients are satisfied or very satisfied with our services and every second client recommends us” said Paweł Nowak, Member of BGŻ BNP Paribas Management Board responsible for sales.
The Company declares that it will continue to grow in 2018. Despite potential headwinds, such as changes in the VAT system (so-called Split Payment), the Management Board is confident about its performance. The Company already began to prepare for the changes in the legal landscape at the end of 2017 and keeps on pursuing projects in that area.
“We are participating in consultations and congresses devoted to the upcoming developments. We also constantly monitor the arrangements between the Factors and the Legislator. Our efforts to adapt our processes are also being supported by the BNP Paribas Group. For these reasons, at present we can see no risks that could affect the ongoing provision of services to our client” Paweł Bryła concludes.
If you want to read this news in Polish, you can visit BGŻ BNP Paribas Faktoring website.