Slovak Tatra banka again the No. 1 factor in Slovakia

According to the 2009 factoring results presented by Assosiation of factoring companies in Slovakia, Tatra banka is again the biggest factoring company on the market maintaining the position from previous year. Factoring of Tatra banka, which is the part of Raiffeisen International, recorded turnover of EUR 269 mln., down 11 percent in year-on-year comparison. The turnover decrease was however the weakest on the market, which slipped over 26 per cent reflecting the financial crisis in the very open Slovak economy. Therefore Tatra banka even strenghtened its market position to 24% remaining the biggest factor in Slovakia.

The portions of domestic and international factoring on the total factoring turnover were balanced. The non-recourse factoring increased its share from 9% in 2008 to 16% in 2009.