handlowy-heller sa ryszard lubliński member of the management board commercial director warsaw,...
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Handlowy-Heller SA
Ryszard LublińskiMember of the Management BoardCommercial Directorwww.heller.pl
Warsaw, October 23–24, 2003
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Poland success story
Agenda
What influenced development of factoring 1990-2002
Development of SME in Poland
Factoring market in Poland – current situation
Trends and scenarios for future-
how factoring will develop
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•Creation of market economy
What happened in Poland since 1990
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Source: PARP
No. of active businesses in Poland 1990-2002
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
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•GDP growth rate – @ 4,5% over last 10 years
What happened in Poland since 1990
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Gross Domestic Product
0,0
50,0
100,0
150,0
200,01
99
5
19
96
19
97
19
98
19
99
20
00
20
01
20
02
Source: CSO
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•Inflation rate – down from 60% to 2% in last 11 years
What happened in Poland since 1990
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Inflation in Poland1991-2002
0
10
20
30
40
50
60
70
1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001
Source: CSO
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•Creation of the financial system• Stock Exchange• Internal and external convertibility of the
currency• financial market• banking system
What happened in Poland since 1990
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Source:The Banking industry in the emerging market economies, BIS 2001
0
10
20
30
40
50
60
70
80
Slow
enia
Polan
d
Brasil
Chile
Korea
Chin
a
Indi
a
Russia
The size of the foreign investments in the banking sector (%) 2001
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Source:CETO
Financial Market in Poland -2002
Consumer savings in the banking system: @ 44 billion EURO
Commercial deposits in the banking system: @ 16,5 billion EURO
Insurance companies: @ 8 billion EURO
Investment funds:@3,5 billion EURO
Pension funds: 6,5 billion EURO
Banks investments in securities: 23,5 billion EURO
TOTAL: @101 billion EURO
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Source: PKPE
Structure of businesses in Poland (in terms of # of businesses)
6,29%
29,03%
64,68%
Small enterprises Medium enterprises Big enterprises
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Source: PKPE
SME liquidity problems (2001)
31,4
4,8 4,6
43,8
7,4
2,8
0
5
10
15
20
25
30
35
40
45
50
1Tax payments (VAT) Supermarkets chains International corporations
Public sector Other Clients No problems with liquidity
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Source: PKPE
Sources of financing the growth for SME
82,0
18,212,5 9,1 8,8
5,0 6,82,0 2,9
0
10
20
30
40
50
60
70
80
90
100
Own funds Regular credit line
Preferential credit line Leasing
Loans from family/ friends Trade credit (payables)
Credit guarantee and EU funds Factoring (estimation)
Other sources
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Source: H-H
Factoring in Poland – % of GDP
Country Volume % GDP
Italy 125 bln EUR10,27%UK 140 bln EUR 9,98%France 68 bln EUR 4,46%Spain 24 bln EUR 3,62%
Poland 3,3 bln EUR 1,8%
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Source: KIF
0
2
4
6
8
10
12
14
16
bln
zł
1995 1996 1997 1998 1999 2000 2001 2002
Factoring companies Banks (est.) TOTAL
The size of the factoring market in Poland
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Factoring in Poland- things to do
1.Bad debt write offs
2.VAT regulations
3.Factoring concept awareness
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Factoring in Poland-what next ?
1.Newcomers – growing competition
2.Rapid development of faktoring without recource
3.Cross-selling strategies4.Internet based products
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Ryszard LublińskiMember of the Management BoardCommercial Directorwww.heller.pltel. + 22 581 04 00