Factoring firms financed PLN 132 bln worth of invoices in Q1-Q3

Factoring companies recorded a total of PLN 132.1 billion in revenue over the first three quarters of 2017, 17.3 percent more y/y, industry association PZF stated. Over 8,500 clients used their services (up from 7,500 recorded after Q3 2016). Factoring firms financed 6.4 million invoices, with the average value of PLN 21,000. The three biggest factoring companies in the Polish market are: ING Commercial Finance (PLN 19.613 billion in revenue in Q1-Q3 2017), BZ WBK Faktor (PLN 16.759 billion) and Raiffeisen Polbank (PLN 13.128 billion).