Eurofaktor expects to witness turnaround in 2007

For the time being it is generating costs, as its is busy expanding its network, introducing new products and establishing cooperation with new partners. "The main objective is to diversify our sources of revenues. Eventually we would like to have equal revenues from factoring, retail credits and mortgage loans," said Tomasz Tomaszewski, the new president of Eurofaktor. He went on to say that the process of achieving a perfect model of operations would take two years. In its core competency, which is factoring, the company is stressing cooperation with banks. "We want to offer full factoring service to banks, which do not have their own specialist companies or departments. We are close to signing a letter of intent with the first bank. We dream of handling five financial institutions. This will enable a substantial growth in volumes," said the president. (Puls Biznesu, p. 11) M.M.