Report: Hungary’s factoring market grows 32% in 2015

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Hungaryʼs factoring market grew by 32% over the last year as compared to the previous year, reaching almost HUF 1.2 trillion, Hungarian economic daily Világgazdaság said today, citing data from members of the Hungarian Factoring Association.

According to the paper, net factoring turnover was up by approximately 11%, at HUF 140 billion.

The growth of the market was chiefly boosted by Hungarian OTP Bank’s gross factoring stock having nearly tripled over the year to HUF 415 bln from the previous year’s HUF 143 bln. The paper added that the factoring turnover of UniCredit bank in Hungary almost doubled, to reach HUF 180 bln.

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