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Words from an expert


Check out this interview with Hans Jacobs, Sales and Marketing Manager of BNP Paribas Fortis Factor in Belgium, to learn how Factoring benefited one of their clients.

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Check out our video to know what is factoring, how it works and what advantages it offers.

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Revenue growth of BNP Paribas Factor GmbH well above industry growth

In the first half 2015, we reported a new sales record with EUR 7.8 billion and thus achieved a growth of 106 percent on the previous year (same period 2014: EUR 3.8 billion).

The entire German factoring market is also on track for growth. According to the German Factoring Association (DFV), this market has grown by 11.64 percent to EUR 100.5 billion in the first half of 2015. In the previous, it was still at EUR 90.02 billion. (The members of the German Factoring Association representing more than 98 percent of the organized factoring volume.) Growth driver especially with the 25 leading factoring companies was international business with 22.94 percent growth of export business to 26.85 billion and 23.36 percent growth of the import business to EUR 1.96 billion. With around 8 percent growth it brought the national factoring business to EUR 73.65 billion.

The sales increases are also due to ever increasing numbers of customers. Compared to last year's growth of 5.67 percent to 19,200 customers is recorded here. This is an indication that factoring is also used as an effective means of corporate financing in times of low interest rates, especially in the SME sector.





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Continued growth: BNP Paribas Factor once again achieved a significant growth in sales. At € 21.2 billion, the factoring subsidiary of BNP Paribas increased its annual turnover by 23% compared to the previous year, thus further strengthening its market position as provider of innovative national and international financing solutions.

In 2016, in-house factoring and international business were key growth drivers, accounting for 97% of sales. In-house factoring revenues increased by 22% compared to 2015. Foreign debt increased by 51% year-on-year, while sales in Germany remained reasonably stable. Geographically, BNP Paribas Factor was able to expand its revenues in Western and Eastern Europe by 33% respectively. The factoring provider generated its biggest share in turnover in the "trade and commerce" sector. Here, BNP Paribas Factor recorded an increase of 33% compared to the previous year.

"We also expect further growth in 2017 through the existing sales activities of the BNP Group and our partnerships. In addition, we are planning an SME-campaign with the objective of providing € 1 bn of alternative financing for medium-sized companies. Our focus is on supporting companies with receivables financing in Germany and abroad, "says Thorsten König, Managing Director at BNP Paribas Factor GmbH. "In order to continue our growth path, we are well positioned for the future. With our new Chief Sales Officer, Dennis Wallenda, we have a specialist who will develop and continue the successful growth strategy of BNP Paribas Factor. "

Dennis Wallenda joined BNP Paribas Factor as Chief Sales Officer at the beginning of this year. Previously, he had been working for Norddeutsche Landesbank, most recently in the position of Director of Supply Chain Finance in Corporate Finance.

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