Factoring in Hungary: Factored turnover rose by 31% to HUF 1572 billion last year.
Világgazdaság( www.wg.hu ) first noticed the fresh data on the website of the Hungarian Factoring Association. Based on this, unprecedented volumes, 1572 billion HUF turnover were produced last year by the factoring market in Hungary, which represents a 31% increase similar to the previous year.
According to the Hungarian Factoring Association, 87% of turnover, 1370 billion forints came from domestic factoring. 55% of turnover was recourse factoring and 43% was used by large corporate customers. Factoring services were mostly taken in commercial (555 billion), in services (218 billion) and in industry (202 billion).
In addition to the increase in turnover, gross Factorized Shares are essentially unchanged: as at the end of 2015, they had net income of 167 billion forints, while net assets rose from 140 to 153 billion forints.