Polish exporters that showed exceptional resistance to market disturbances during the pandemic are provided with new solutions that will allow them to conduct foreign expansion even more effectively. Instruments from the exporters’ support system introduced by KUKE (specialized in trade insurance and financing) will be offered to the customers by Santander Bank Polska.
The agreement signed between KUKE and Santander Bank Polska will contribute to promoting the new export support system among the bank’s customers. In addition, the parties will cooperate in other fields, including information campaigns on the advantages of trade finance. Santander Bank Polska is the first Polish bank to offer entrepreneurs the latest instruments from KUKE offer thanks to which domestic exporters will be able to increase the financing of their investments and secure sales to foreign markets.
„Financing the export and expansion of Polish entrepreneurs on foreign markets is one of the priorities in the activities of Santander Bank Polska. Exporters are dynamic and creative companies, focused on development, not afraid of competition. The experiences of the pandemic only confirmed that banks should focus on increasing cooperation with them and support their expansion. We are glad that KUKE will be a partner in these ventures on an even larger scale, with whom we have been cooperating for years in various transactions. The solutions offered by KUKE this year are a completely new quality of support for exporters, allowing multiplying Poland’s presence on global markets. It is also an opportunity to stimulate domestic export-oriented investments and convince other enterprises to boldly go abroad with their products and services. Soon, first customers should take advantage of the latest solutions offered by us. We see very large possibilities of using KUKE guarantees for working capital and investment financing, thanks to which entrepreneurs will be able to obtain larger credit limits” said Juan de Porras Aguirre – Head of Corporate & Investment Banking/Vice-President of the Management Board at Santander Bank Polska.
TO SUPPORT ENTREPRENEURS AND THE EXPORT
New instruments guaranteed by the State Treasury reduce the credit risk related to financing exporters’ activities. As a result, banks focused on rapid growth will be able to lend clients more funds in terms of working capital, investment financing, and guarantees at the same level of risk, while others will be able to limit the risk that KUKE will assume.
„KUKE’s mission is to act for the benefit of Polish entrepreneurs, including, in particular, supporting exporters. We did this effectively during the pandemic, when in such difficult conditions and with uncertain prospects, Poland increased its share in world trade. Although the market is returning to the market, it does not mean that exporters will be much easier to function, because many countries want to get out of the pandemic recession thanks to exports. However, we are convinced that the new instruments introduced by KUKE this year may significantly improve the competitive position of Polish exporters. However, to offer them, cooperation on the part of banks that support and finance domestic entrepreneurs is required.” said Janusz Władyczak, CEO at KUKE.
As part of the export support system, KUKE introduced new instruments and thoroughly modified the offer of existing products supported by the State Treasury. There were, among others loan repayment guarantees for working capital financing, guarantees for repayment of liabilities to suppliers, and guarantees for financing the supply chain, which will help exporters, among others obtain additional funds from banks and factoring companies.
Source: Santander Bank’s press release from June 22, 2021
