The Polish leasing arm of KBC is
small compared to its leasing business elsewhere in Europe,
although the Belgian financial services group lists Poland as one
of its five home markets.
KBC owns general leasing company
Kredyt Lease and full-service car lessor KBC Autolease Polska. Both
are subsidiaries of Kredyt Bank, Poland’s sixth-largest bank. The
Belgian group also has a strong presence in the insurance sector:
it owns WARTA, the country’s second-largest insurer.
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Roughly the 20th-largest Polish
leasing company by volume, Kredyt Lease has 1.5% market share.
Joe Moore, country manager for
KBC’s leasing business in Poland, says: “Our leasing company
doesn’t reflect the size of our financial group here in Poland, but
it has huge growth potential.
“We copy KBC in Belgium and
distribute our products not only directly but also through the bank
network.”
About 90% of Kredyt Lease’s new
business comes through its bank network.
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By GlobalData“It doesn’t mean we will never
distribute our products directly or through third parties, but we
do concentrate on group customers,” Moore says.
The portfolio is roughly PLN500m
(€129m), with new business up 34% to PLN250m in 2010.
“In 2009 people were absorbing the
effects of the crisis both from the demand and supply side,” Moore
says.
“In 2010 there wasn’t maybe a
significant recovery, but people started to invest again and became
more optimistic.”
KBC’s Polish leasing business
mirrors the market, with vehicles accounting for 63%, and machinery
34%.
Moore’s task as the new head of
leasing – he was appointed in September 2010 – is to develop both
Kredyt Lease and KBC Autolease Polska.
“I aim to ensure that we realise
any synergies, to be as efficient as possible, and not to duplicate
back office and unnecessary costs,” Moore says.
Mid-size corporates and SMEs will
become a focus for new business.
“Working closely with other
divisions of the group, we want to offer a comprehensive solution
to that segment, not just a bank account or working capital
facility, but the complete package,” Moore says.
“We are also interested in working
with the insurance agents, and maybe develop that as an additional
channel.”
The lessor also aims to increase
its real estate and vendor business. It will strengthen ties with
other KBC leasing companies in the Central and Eastern Europe
region, with new changes to the structure to be announced soon.
Moore says: “We are bullish about our future in Poland. Our
focus is certainly with the bank’s customer base, but we also think
we have the ability to go to external channels.”
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