Factoring market, up by over a third in Romania

Romania’s factoring market grew last year by 35% to EUR 3.65 billion, supported mainly by small and medium-sized companies with up to EUR 5 million in revenues. The growth tendency has begun in mid-2015. Almost a quarter (23%) of the factoring financings were granted to companies in the construction sector, according to the Romanian Factoring Association. Companies in the energy sector accessed six times higher factoring financings last year whereas IT&C companies tripled their volume. Big companies, with turnovers over EUR 50 million, have accessed the largest volume of factoring financings. They had a market share of 36%. However, the small and medium-sized companies had the fastest growing contribution. Their share almost doubled compared to 2014, reaching 29%. editor@romania-insider.com