Polfactor and Transfinance now fully part of BRE Bank Group

Polfactor and Transfinance now fully part of BRE Bank Group

Consequently, BRE Bank Group will concentrate on factoring activities in Poland and the Czech Republic - its main markets. Our priority is to organize the cooperation of subsidiaries within BRE Bank Group to ensure the best synergy in the core banking business, said Karin Katerbau, Vice-President of BRE Bank. As a result of the transaction with Erste Group we will now focus fully on markets that are best known to us and at the same time display highest potential.  Polfactor was established by BRE Bank and Intermarket Bank in 1995 and is one of the pioneers of the factoring industry in Poland. Currently, it ranks 5th on the Polish market (according to the data of the Polish Factors' Association for H1 2011) with a share of 8.12%.Transfinance (established in 1991) is the 3rd largest player on the fast growing Czech market with a market share of 14.4% as of H1 2011.