Getin Bank launches new Factor in Bank to target SMEs

The new company is to be called Factor in Bank. "Separating these services from the core business under a new brand name has no meaning for the recognition of the bank, but is rather a marketing move. This does not change the fact, however, that a growing number of banks are recognizing the factoring sector to be a perfect complement to the basic offer," commented Millennium DM analyst, Marcin Materna. The director of Factor in Bank, Klaudiusz Sytek, said that during the 11 months since the formation of the bank, they have financed invoices worth zl.115 million. He went on to say that he hopes to see this figure more than double by the end of this year. This division of the bank is focused on servicing the SME sector, with annual turnover not exceeding zł.30 million. Klaudiusz Sytek added that his goal is to be the leading service provider in the SME sector. (Puls Biznesu, p. 7) A.K.