Bank Millennium aims to grow its leasing business in Poland by
30 percent in 2010, the Portuguese BCP (Banco Comercial Português)
subsidiary has announced.
Andrzej Glinski, head of corporate banking at Bank Millennium,
said that leasing and factoring were “strategic products” for
Millennium, and that gains in factoring would be achieved thanks to
investment in the bank’s IT systems.
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Currently, 60 percent of Millennium’s leasing business is
sourced through its banking clients, and Glinski said the goal was
to grow the number of SME customers.
Millennium’s credit portfolio at the end of September 2009
amounted to PLN33.7 billion (€8.1 billion), of which PLN8.7 billion
was in corporate loans and leasing.
“We want to be much more active in corporate lending, in all
segments of this market,” said Glinski.
“We expect that leasing and factoring will grow much faster than
the market – our ambition is to significantly increase market
share.”
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By GlobalDataGrowth will already be visible in 2010, Glinski said. He expects
the bank’s leasing market share to grow from 5.3 percent to 7
percent by the end of next year.
“There is investment hunger on the market. It is clear that the
market is already making a comeback this quarter, and the effects
of those investments will be visible later, in 2010.”
Jason T Hesse
