Factoring market reaches 3.68 billion euros in first half of the year, up by 31.6%

The factoring market reached 3.68 billion euros in the first half of this year, up 31.6% compared to the same period last year, the Romanian Factoring Association (ARF) announced.

The ARF research is based on data provided by both ARF members (banks and non-banking financial institutions, NBFIs), non-members and the Association's estimates regarding the rest of the market players.

"In the entire economic context and considering the current geopolitical situation, factoring remains one of the basic financing products used by companies from all fields of activity. In addition to the added value it brings in periods of uncertainty, factoring has demonstrated its efficiency as an alternative to standard short-term lending products, in the last ten years registering important increases. The growth recorded in the first half of the year is based on several vectors, which support the economic growth recorded by Romania in areas that are financed through factoring, but also by the rise of inflation, which increased the prices of traded goods and services and, implicitly, the value of receivables managed through factoring," said Bogdan Rosu, chairman of the Romanian Factoring Association, told Agerpres.

"The advance of import and export factoring volumes was stimulated by the intensification of international trade relations, by inflation in the euro zone, with which Romania has the most important trade exchanges, but also by the increase in prices, influenced by the geopolitical situation, in the field of "metals, chemicals, water, recycling" field that represents the main contributor in international factoring," Bogdan Rosu mentions.

Also for the first semester, the ARF study highlighted a 30% increase in reverse factoring, reaching 1.1 billion euros in absolute figures, which means a share of approximately 38% of the total domestic factoring.

The study on the factoring market for the first 6 months of 2022 was carried out by IPSOS Interactive Services in accordance with the rules of the International Code of Market and Sociological Research ICC/ESOMAR, the study included the members of ARF Access Financial Services IFN, Banca Comerciala Romana, BRD - Groupe Societe Generale, Banca Transilvania, EximBank, IFN Next Capital Finance, ING Bank Romania, Intesa Sanpaolo Bank, Patria Bank, Raiffeisen Bank, Unicredit Bank, as well as other non-member financial institutions.