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2010 results were approved at the general FKB meeting
The general meeting of Factoring KB shareholders took place on 19 April, 2011. The shareholders evaluated year 2010, approved of company economic results and the final accounts and determined profit allocation. They appointed Ernst & Young Audit, s.r.o. as external auditor for 2011.
The total annual turnover of Factoring KB amounted to 12, 035 million CZK in 2010. The company made a profit of 9,402 thousand CZK and the market share 10.8% was maintained year-on-year. Detailed information is available in Annual Reports section.
Atradius insurance company
Factoring KB prolonged its cooperation with Atradius Credit Insurance N. V. in February 2011. Through this business conjunction, Factoring KB is able to provide a wide range of insurance protection for domestic and foreign claims.
About Atradius
Atradius is one of the largest claims insurance companies in the world with over 80 years of experience and annual revenue of over 1.7 billion EUR, which accounts for 31% of global market share. Atradius employee base constitutes of 3,400 workers and more than 160 offices in 42 countries. They have access to credit information of over 52 million companies worldwide, making 22,000 credit limit decisions a day. Atradius has earned Standard & Poor’s A- rating and its majority owner is Grupo CyC – Grupo Companía Espaňola de Crédito y Caución.
Cooperation with Coface insurance company
Factoring KB has been cooperating with a business partner for non-regression factoring; Coface Austria Kreditversicherung AG, organizační složka Česko since mid 2009. Coface provides insurance of all non-regression factoring types in EU countries for Factoring KB clients.
Coface rating includes A+ from Fitch agency; A from Standard & Poor’s and A2 from Moody’s. Coface is a subsidiary of Natixis and it has direct representation in 67 countries where 6,500 employees serve 130,000 clients. More than 45% of global corporations use Coface’s high quality services. It has been operating in the Czech Republic since 1991.