For the third time in a row Faktoring Tatra banky is the largest factoring company in Slovakia

The total volume of pre-financed receivables in the form of factoring came to roughly EUR 218 million in 2010, however, which translates as a 19% drop year-on-year. The share of domestic factoring in total turnover came to approximately 68% and foreign factoring therefore made up around 32%. The share of non-regression factoring in total turnover once again increased year-onyear from 16% in 2009 to 27% in 2010.

From the perspective of corporate segments, the greatest share in total turnover was generated by medium sized companies, which accounted for 54%, followed by the segment of large clients with a 25% share, and small companies accounting for a 21% share.

In the course of 2010 Tatra banka introduced a new product - reverse factoring, with which the bank negotiates with the customer on the general terms of financing the receivables of their suppliers. Following the successful pilot project, we want to develop this product further.

Despite a decline in the factoring market in Slovakia in the past two years, we believe that the year 2011 will once again post growth and a rising number of clients utilising this attractive product, which incorporates financing and receivables management, and in many cases also handles risk from insolvency or unwillingness of the customer.

Tatra banka has been offering factoring products for over 17 years already and is a member of the international association International Factors Group.

Trade financing of Tatra banka in 2011 successfully defended its title as Best Trade Finance Provider for the second year in a row. The bank was evaluated for products like bank guarantees, letters of credit, factoring, agri-financing or export financing with EXIMBANKA SR.