For the time being there are information from two markets available: Poland and Czech. Based on the information provided by the Polish Factoring Association we can estimate how the factoring in the region has performed in the year 2009.

The turnover reported by companies rendering factoring services federated in the Polish Factor Associated presented on a press conference held in Warsaw on January 12th , 2010 amounted to over PLN 30 billion which was 8,5% lower than a year earlier. This result was influenced by a conservative approach of insurers, who ran a more conservative policy on trade of insurance, what led to decrease of the non recourse factoring volumes. In the press conference participated as a special guest Mr. Erik Timmermans having an short presentation on the European and worldwide factoring market.

The leader among PFA members was ING Commercial Finance with a market share of 30.7%, followed by Pekao Faktoring with 16,4 % of market share. Coface Poland Factoring holds the no 3 position with a market share of 14,5%.
However, significant increased in turnover show banks, which offer factoring. The turnover of the eight of them amounted close to PLN 20 billion which was an increase by 17 %. Leading position maintained Raiffeisen Bank with a volume of 10,2 billion PLN. Indeed, banks turned to factoring, which they regarded to be a safer product rather than loans.

As a result of this the entire factoring market in Poland has kept the previous year (2008) result around 50 billion PLN (12,5 bln EUR), what is rather good result in comparison to the Czech market which according to Czech factoring Association shows a decrease of 25% y/y.

The year 2009 was not easy for the sector and crisis was visible in factoring industry. But a further decline is not anticipated in 2010. The situation is expected to remain stable Mirosław Jakowiecki, chairman of Pekao Faktoring , told a press conference in Warsaw. According to Jakowiecki, more difficult access to bank loans and increasing outstanding payments create good opportunities for the factoring sector.