Turnover of factors, which are members of the Slovak Factoring Association (AFS) has increased by 30 per cent during H1 2005. It is 10 percentage points higher than predicted with total figures reaching almost Skk 15bn. Whilst last year’s results from factoring companies showed that client numbers had increased and the receivables (financing) business was on a rise the market was dominated by the same leaders whose rankings remain almost unchanged from last year’s. Factoring Slovenskej Sporitelne, caused the market to fluctuate last year but this year the situation is calmer. However, this is not a reflective of a change of direction by the market leader as it has continues to overcome its rivals with by far the largest market share. By the end of June it occupied 46 per cent of the association’s business transactions.
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Whilst last year’s results from factoring companies showed that client numbers had increased and the receivables (financing) business was on a rise the market was dominated by the same leaders whose rankings remain almost unchanged from last year’s. Factoring Slovenskej Sporitelne, caused the market to fluctuate last year but this year the situation is calmer. However, this is not a reflective of a change of direction by the market leader as it has continues to overcome its rivals with by far the largest market share. By the end of June it occupied 46 per cent of the association’s business transactions.