The factoring market broke records last year

The factoring market in Hungary has gained a record turnover last year, but unlike the tendency in the European Union, the share of the micro and small companies decreased from the factored turnover – Csáki Ferenc, President of the Hungarian Factoring Association told at the alliance’s press conference in Budapest on Wednesday.

The chairman of the alliance also said that the role of factoring in the world trade is significant. The FCI (Factors Chain International, co-ordinating international co-operation between hundreds of factoring companies operating in more than 60 countries) reported that world factoring sales amounted to 2,598 billion euros in 2017, which is a 9 percent increase compared to 2016. (MTI)