The association said the result was better than expected considering the year’s atypical economic context.
The biggest share (42%) of the factoring volumes in 2020 was held by by companies with a turnover of EUR5 to 50 million, followed by large companies with a turnover of over EUR50 million (36%), and small and medium-sized enterprises with a turnover of less than EUR5 million (22%).
“After a few consecutive years of double-digit growth, last year the local factoring market confirmed its maturity, remaining stable compared with 2019 even during an unprecedented global health and financial crisis,” said association president Bogdan Rosu.
Reverse factoring grew 35%, to nearly EUR1.8 billion, contributing to a 5% growth in domestic factoring, which reached approximately EUR4.2 billion, Rosu added.