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The Warsaw Voice » Business » May 14, 2008
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New Consulting Firm Joins the Fray
May 14, 2008   
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A new firm named Finamo has entered the Polish market for financial consulting services.

Finamo will target retail customers and small businesses. The firm's product range includes cash loans, mortgages and refinancing, investment products, structured deposits, and leasing.

Finamo wants to open 40 branches by the end of this year and another 60 by the end of 2009. The branches will be located in large urban areas and cities with over 100,000 residents. The chain of Finamo branches will be backed by mobile consultants whose number will reach 300 by the end of 2009. This year, Finamo will have 500 employees, a number that is expected to double by the end of 2009.

Finamo is owned by private asset fund Meritum FIZ, managed by the Hexagon investment fund company. Meritum FIZ invests primarily in company stock, receivables, bonds and other securities not admitted to public trading. The investor has set aside zl.100 million for the development of Finamo this year, with the goal of making the firm a leading financial consultancy in the country.

Finamo is confident that Poland's financial sector has excellent prospects for further growth. The Gdańsk Institute for Market Economics expects that sales of mortgage loans will rise to zl.70 billion in 2011, from zl.54 billion last year.

M.J.
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