News

Post-pandemic production relocation: an opportunity for CEE countries?

07/23/2020

Foreign trade and inclusion in supply chains had already increased in recent years, supported by EU membership by most CEE (Central and Eastern European) countries in 2004.

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Coface reports a positive net income of €11.3m for the second quarter 2020 and continues to implement its strategic plan

07/29/2020

Turnover for the first semester: €725m, down 0.6% at constant FX and perimeter:
Client retention and new business achieve record levels, with a positive net production of €33m.
First effects of re-pricing are now visible (+0.2%).
Revenues from services progress by 7%, including information services up by 13%.
Client activities continue to slowdown – a trend expected to continue over the following quarters.

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Global Transport: What does the future hold beyond COVID-19?

07/16/2020

The COVID-19 pandemic has triggered a mobility crisis, mainly because of physical distancing requirements and the necessity to avoid confined spaces, to limit the virus’propagation. This has had a disastrous impact on the global transport sector, with air passenger transport being the most affected segment.

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United States: Two-speed business bankruptcies

07/09/2020

As the COVID-19 epidemic hits the United States very hard, Coface forecasts in its baseline scenario that the country's GDP will contract by 5.6% in 2020, before rebounding by 3.3% in 2021. Nevertheless, this forecast is threatened by the resurgence of the outbreak in several states, which are already pausing or even reversing the resumption of activity after the extensive lockdown of April.

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Asia Corporate Payment Survey 2020: COVID-19 will overturn last year’s incipient recovery

07/01/2020

After a 2019 that was dominated by trade tensions between the United States and China, Coface has observed an incipent recovery in Asia (excluding China), supported by supply chain shifts and additional liquidity from the US Federal Reserve.

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    Lithuanian bank financial market participants to issue licenses to provide financial services license and supervise their activities, monitors compliance with the laws of Lithuania and the Bank with the statutory requirements of international financial reporting standards, international organizations recommended for safe and reliable operation requirements.

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A.Tumeno str.4, LT-01109 Vilnius
Phone:  +370 5 279 17 27
Fax:      +370 5 279 17 54
Email: office-lithuania@coface.com
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    ATTENTION!

    COFACE BALTICS WARNS LATVIAN RESIDENTS ABOUT FRAUDSTERS OFFERING FAKE LOAN INSURANCE

    Trade credit risk insurance company Coface Baltics has received information that fraudsters have approached private individuals residing in Latvia on behalf of company’s name by offering them fake insurance and loan services. The company warns residents to be vigilant and precautious as this might be a fraud scheme.

    Coface Baltics emphasizes that company does not offer services to private individuals and focuses purely on business clients. The company also does not offer loan insurance.

    There are only two ways, how business representative can order Coface Baltics services:

    • Being contacted directly by official representative of Coface Baltics.
    • Contacting Coface Baltics directly with official contact details (www.coface.lt) or via official partner (e.g. licensed broker).

    Coface Baltics always performs all required procedures in order to identify the business representative (KYC, AML etc.) and provides all required documents to be signed.

    All Coface Baltics agreements are being signed by local representatives, who’s contacts are available on official website http://www.coface.lt/en/About-Coface/Coface-in-Baltics/Our-organization.

    Coface Baltics has informed State Police about fraudster’s actions and warns residents to be vigilant and precautious as this might be a fraudulent scheme.  

    If Coface Baltics clients have any concerns, the company urges to contact local Coface customer service by dialling +37052791727 or emailing to office-lithuania@coface.com.