09.04.2014
Bank Millennium grows in factoring
In March this year Bank Millennium has reached a record-high value of monthly factoring turnover – over PLN 1 billion. After Q1 the Bank moved up to the top five factoring companies in Poland.
- This March has been the best month in the history of Bank Millennium, as regards volume of factoring turnover – Jerzy Dąbrowski, Director of Factoring and Trade Finance Department in Bank Millennium says. – The beginning of the year is traditionally considered in the factoring sector to be the toughest, meanwhile in Q1 2014 we purchased invoices with the total value of PLN 2.58 billion – Jerzy Dąbrowski adds.
Already 2013 confirmed the strong position of Bank Millennium in factoring – factoring turnover then reached PLN 9.3 billion, while its market share stood at 8.2%. After Q1 2014 Bank Millennium moved up to the 5th place among largest factoring companies in Poland* (up from 6th place at the end of 2013).
For years Bank Millennium has been offering a broad range of products and value added services associated with factoring, by cooperating with businesses on the partnership basis of transparent rules. It was the first bank in the Polish Factors Association (PZF) – an organisation associating the largest factoring institutions in Poland, which strives to promote factoring and guarantee a high quality of services.
* Based on PZF data