Factoring portfolio soars 39% in 9 months


The aggregate factoring portfolio of the members of the Lithuanian Leasing Association (LLA) grew by 39.1 per cent during the first nine months of this year and reached 483.8 million litas (Ђ140.232m) as at late September.

The data released by LLA showed that the total factoring turnover for the nine months came to 1.827 billion litas, which represented an 8.1 per cent increase over the 2002 annual turnover of 1.69 billion litas.

As at 30 September the domestic factoring portfolio amounted to 383.8 million litas, while the international factoring portfolio made up 100.1 million litas, more than a three-fold increase from 32.7 million litas in the same period a year ago.

According to the report, the strong growth in international factoring reflects continuing growth in the competitiveness of Lithuanian businesses in foreign markets.



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