Bibby Financial Services Poland grows turnover by 50% in Q1
In the first quarter of this year, the turnover of the factoring company Bibby Financial Services Poland increased by more than 50 per cent, reaching nearly 580 million PLN.
Such a large increase in turnover is in part a result of entrepreneurs’ interest in export and non-recourse (with the insurance against the risk of the counterparty’s insolvency) factoring.
- Currently, we are the fifth largest factoring company on the Polish market in terms of number of customers, and who knows, maybe even a leader if we limit the category to small and medium-sized enterprises - says Jerzy Dabrowski, CEO of Bibby Financial Services. According to a statement from the Polish Factors Association, Bibby Financial Services is only ranked behind factoring companies belonging to large banks: Raiffeisen Polbank, ING CF, BZ WBK Faktor and Bank Millennium.
In Europe, Bibby Financial Services is financing nearly 3,000 companies through its offices in France, Germany, Ireland, Slovakia, Poland, the Czech Republic and the Netherlands. Since 2007, the number of customers has increased by an average of 21 percent. In 2015, Bibby increased funding to SMEs in all of its European markets. The biggest growth was reported in the Irish market (+28 per cent.) and the Polish market (+25 percent).