Factoring market will grow by 50% to NIS 4.2bn in 2006
Israel's factoring market is expected to grow by 50% to NIS 4.2 bn in 2006, Shlomi Sarid, CEO of Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) subsidiary Clal Factoring says. The market totaled NIS 2.9 bn in 2005. Clal Factoring is Israel's largest factoring company, with a 38% market share. Sarid believes the factoring market is far from saturation. The entry of new companies into the market last year will help the market grow. Marketing efforts by these companies, and their activities in the field, greatly increased awareness among companies of the financing option.
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