BNP Paribas Factor is expanding its market share through further sales growth
BNP Paribas Factor is pursuing the growth plan of the BNP Paribas Group in Germany in the long term and once again achieves a significant sales growth in the first half of 2016.
BNP Paribas Factor had a turnover of EUR 10.3 billion in the first six months, thus strengthening its market position as a provider of modern national and international financing solutions.
The entire German factoring industry is again on a growth path. The market continued to grow by a further 4% to a total of EUR 104.5 billion in the first half of 2016, according to the data provided by the German Factoring Association, whose members represent more than 98% of the federally organised factoring volume. In the prior-year period, sales were still at EUR 100.50 billion, with growth of 11.64%. Factoring is still a modern form of financing, particularly in small and medium-sized businesses. This is also reflected in the increase in customer numbers by 8% to a total of 20,740 customers.
In the first half of 2016, the factoring industry again benefited from its export strength. The now 33 members of the association experienced an increase of 14.86% to a turnover of EUR 30.84 billion for export factoring. Import factoring, on the other hand, fell by a further 8.4% to EUR 1.8 billion.
The business climate index shows that the members of the German Factoring Association are more optimistic about the trend after the first half of 2016 than in the previous year. In the meantime, 48% are positive about the business climate, while 52% trend to indicate satisfactory business outlooks.