Factoring market up 17 yr yr in H1

The Czech factoring market turnover reached Kc70bn in H1 this year, nearly 17 percent more compared with the same year-ago period, the Association of Factoring Companies (AFS CR) told CTK Monday.

Factoring CS, with Kc15.9bn turnover, enjoys a 22.8-percent market share, followed by CSOB Factoring with a turnover of Kc14.3bn.

"The first-half results confirm that the forecast of a further growth of factoring financing has been correct," said CSOB Factoring CEO and AFS CR chairman Tomas Moravek.

Import factoring share remains insignificant having fallen well below two percent.

Transfinance is number one in international factoring with Kc2.9bn turnover, trailed by CSOB Factoring whose turnover stood at Kc2.5bn, the association said.

Its data have shown that Czech factoring companies financed purchases of claims exceeding Kc127bn, a growth of over 20 percent year-on-year.

The association's members are CSOB Factoring, D.S. Factoring, Factoring CS, Factoring KB, UniCredit Factoring, NLB Factoring, Trasfinance and Raiffeisenbank.

http://www.praguemonitor.com/en/378/czech_business/25483/

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Factoring market up 17 yr yr in H1