The countdown has begun for the operation of the subsidiary company of Pancreta bank, which will specialize in factoring.

The Bank of Greece has given the "green light" for the new company, which is expected to commence its operation in January 2024. It will be staffed by experienced professionals in the factoring market and will provide a full range of factoring products and services for both domestic and international transactions.

These specific services are already offered internally by the bank, but with the establishment of the subsidiary company,  Pancreta bank   satisfies a strategic goal, namely the enhancement of the level of market service.

The new service will be provided in conjunction with  Pancreta bank's other Business Banking products, aiming to cover the needs of customers as comprehensively as possible. This service is part of the overall transformation of  Pancreta bank, with a consistent goal of creating a competitive and customer-centric banking organization.

Factoring services are utilized by businesses with the goal of quickly raising working capital and managing their receivables.