Cofinoga begins to fulfill its ambitious expansion plans

It used to operate through Finplus, Accord Polska and Geant Kredyt. However, the group decided to simplify its structure due to growing sales and expansion plans. "We decided to transform into a division of the French Sygma Banque. Now we can grant loans from our own funds," explained Stephan Guglieri, the SBP director general. Sygma Bank Polska is already among the first three largest domestic credit cards issuers for retail networks such as Auchan, Geant and Praktiker. It also plans to grant cash and installment loans. "In three years we want to be among the first five largest installment loans providers on the market," announced Guglieri. The number of SBP employees is to increase from 200 to 300 this year. However, organic growth may not be enough, and according to sector analysts, acquisitions will be necessary. Cofinoga is rumored to be interested in buying Eurobank, one of the most dynamic retail banks on the market. (Puls Biznesu, p. 10) E.B.