Monetia to expand internationally in 2017

Increased earnings by money transfer service Monetia strengthened its position in the outsourcing of cash, where it has a 30 percent market share, the company said in a press release on Thursday. During Q1 to Q3, earnings before interest, taxes, depreciation and amortization (EBITDA) were higher than for all of 2015. They amounted to more than PLN 2.5 million on revenues of PLN 30 million, the company said. "This year, institutional clients generated one quarter of our revenues. With our cooperation we could better identify their needs, expectations and opportunities. We used this to develop our plans regarding new ventures, which we want to start in 2017. In line with our plans for the next two-three years, B2B sales should be responsible for 50 percent of revenue," said president Wojciech Jozwiak in the release. The company said there would be changes in the area of outsourcing cash, directing the flow of visitors, retail customer services, staff and cash takings, delivery and installation of CDMs and conducting branches. "We are developing a platform to carry out international money transfers, at the same time serving more and more foreigners working in Poland, and going to Ukraine and Vietnam," he added.