Annual turnover of Factoring Slovenskej sporiteľne exceeded SKK 20 billion as of half of December
Factoring Slovenskej sporiteľne is still the leader on the Slovak factoring market. In mid of December, the company succeeded to break the magic SKK 20 billion turnover. By end of the year, representatives of Factoring Slovenskej sporiteľne expect the turnover of as much as SKK 20.5 billion, a year-on-year increase
by 44 %.
"Experience reached so far confirms that factoring is far from being only a simple form of refinancing of receivables. Since our clients conduct business activities in various industrial areas we aim to tailor our services and products to their specific needs. Still growing requirements of our clients are reflected in quality increase of all service activities connected to factoring business.," says Oldřich Netušil, Chairman of the Board of Directors of Factoring Slovenskej sporiteľne and at the same time the Chairman of Association of Factoring Companies.
Factoring financing has experienced a growing trend worldwide and also in Slovakia which was strongly supported by the EU accession jointly with increasing export orientation of the Slovak companies. The awareness of factoring and its added values is also increasing. Recently, clients have been using insurance of receivables against less creditworthy customers and outsourcing of receivables administration. With regard to high efficiency of receivables recovery, particularly those overdue, large companies mainly use receivables outsourcing.
Factoring Slovenskej sporiteľne, a. s. is the largest factoring company in Slovakia and founder of the Association of Factoring Companies. It offers complex services in the field of receivables financing and administration, including insurance against risks of non-payment by the customer to the client. Compared to other factoring companies, it has one major advantage - accessibility by means of 286 points of sale in Slovakia.
Turnover development of Factoring Slovenskej sporiteľne, a. s.:
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Slovenská sporiteľňa is with 2.5 million clients the largest commercial bank in Slovakia. In 2005 and 2006, the Bank was awarded the Euromoney Magazine Award "The Best Bank in Slovakia" and according to the weekly Trend, it's the most successful bank in Slovakia in 2006. The prestigious weekly magazine The Banker granted to Slovenská sporiteľňa the "Bank of the Year" Award in 2005. Its only shareholder is Erste Bank - an Austrian Bank that is according to the number of clients as well as the balance sheet total the largest bank in the Central European region. Slovenská sporiteľňa has a long-term leading position in total assets, client deposits, number of points of sale, ATMs and is also a market leader on the loan market. The Bank is an active participant on the Slovak money and FX market. Slovenská sporiteľňa offers complex banking services aimed at retail clients and small and medium-sized enterprises in 285 points of sale and in ten commercial centers in all regions of Slovakia. |
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