The Romanian factoring market surpassed the 4 billion euros mark halfway through 2023, after a 10% advance compared to the same period last year, according to the half-yearly research conducted by the Romanian Factoring Association (ARF).
The organisation's research is based on data provided by both ARF members (banks and NFIs), non-members and the Association's estimates of the remaining players in the market.
Domestic factoring, as a whole, grew by 17%, reaching approximately 3.5 billion euros in the first half of the year. One of the most spectacular growth was in the reverse factoring segment, which saw a 30% increase compared to the same period last year, continuing its upward trend.
"With a share of around 42% in domestic factoring operations, reverse factoring has become a core financing option for many companies supplying products and services to large KA chains. In fact, according to our data, the FMCG sector also has the largest share of 17% of all business areas dealing with these types of products in the domestic factoring area. Here we have, in absolute figures, a volume of more than 600 million euros in the first half of 2022, compared to 500 million euros in 2022. The evolution of consumption, maintained by the slowing down of inflation development, has largely contributed to these volumes achieved by the FMCG sector," said the president of the Romanian Factoring Association, Bogdan Rosu.
Also in terms of business areas, the IT & C sector ranks second in the domestic factoring sector, with a share of 15% (approximately 493 million euros), followed by automotive, machinery and equipment with 14% (479 million euros). The energy sector also performed remarkably well, with a contribution of 11% (370 million euros), doubling its level in the period under review compared to the previous year.
The study on the factoring market at the level of the first 6 months of 2023 was conducted by IPSOS Interactive Services in accordance with the rules of the ICC/ESOMAR International Code of Market and Sociological Research, and the study included members of ARF Access Financial Services IFN SA, Banca Comerciala Romana S.A., BRD - Groupe Societe Generale S.A., Banca Transilvania S.A., EximBank, IFN Next Capital Finance S.A., ING Bank Romania S.A., Intesa Sanpaolo Bank, OTP Bank, Patria Bank, Raiffeisen Bank S.A., Unicredit Bank S.A., as well as other non-member financial institutions.
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