Santander offers new export solutions from KUKE
Santander Bank Polska is the first Polish bank to offer entrepreneurs new instruments from KUKE, allowing domestic exporters to increase the funding of their investments and secure sales to foreign markets.
Polish exporters that proved to be outstandingly resistant to the unprecedented market turmoil caused by the Covid-19 pandemic will be given new solutions that will allow them to ensure even more effective foreign expansion. The instruments from this year’s exporter support system implemented by KUKE will be offered by Santander Bank Polska ─ one of the leaders in financing international trade ─ to its clients. The cooperation agreement was signed by KUKE’s President and CEO Janusz Władyczak and Juan de Porras Aguirre, Vice President of the Management Board of Santander Bank Polska.
The new instruments which are guaranteed by the Polish State Treasury reduce the bank credit risk related to financing export activities. Thanks to this, banks focused on speedy development will be able to lend more money to their clients for their working capital, investment and guarantee needs while maintaining the same level of risk, while others will be able to limit the risk, which will be assumed by KUKE.
The agreement signed between KUKE and Santander Bank Polska will contribute to promoting the new system of export support among the bank’s clients. Furthermore, the parties will also be able to cooperate in other fields, like information campaigns on the advantages of trade finance.
Within the export support system, KUKE has introduced new instruments and thoroughly modified the existing product offering provided with the support of the State Treasury. Working capital guarantees, guarantees for the repayment of liabilities towards suppliers, and supply chain financing guarantees are among the new guarantees that will help exporters obtain additional funds from banks and factoring companies. As for contract guarantees, the procedures and documentary requirements have been simplified, and the scope of goods and services that they cover and their applicability have been extended. Thanks to the new insurance of bank loans for financing direct investments abroad, Polish firms will be able to expand and take over competitors more easily. One of the key solutions in the new palette are guarantees for financing investment projects in Poland for exporters ─ covering both Polish and foreign investors developing production in our country.
Use of these instruments strengthens the exporter’s financial capabilities, positively influencing its relations with financing banks, and allows it to significantly scale up its operations. KUKE is working with the CMS law firm in the scope of creating the client documentation.