Hungarian Factoring Association: the factoring market achieved good results despite the crisis

By: Trademagazin editor Date: 2020. 09. 14. 11:25

Despite the virus and the ensuing economic downturn, the first half of this year produced a surprisingly good result in the factoring market.

Turnover increased by 20 percent compared to the same period in 2019, from 1,262 billion HUF to 1,515 billion HUF. Based on the good half-year figures, the Hungarian Factoring Association has a more modest but expected further expansion in the factoring market in 2020 compared to the outstandingly successful year of 2019.

According to the association’s statement sent to MTI on Monday, the financing (loan) portfolio increased by 7 percent, from 286 billion HUF to 294 billion HUF in the first half of the year. (MTI)