The sale of receivables via factoring boomed in 2017 in Germany. The turnover of the members of the German factoring association increased by 7.2 per cent to now 232.4 billion euros. In the first half of the year, the increase had even reached 8.4 per cent. This value could not quite hold for the whole year - probably because the competition from the banks is extreme.
The annual balance of the factoring association shows that customers not only use a higher volume of financing for the sale of receivables. The number of customers also rose by more than 33 per cent, which means that 36,000 customers now use factoring. The increase is partly explained by new members in the factoring association, which claims to represent 98 per cent of the German market.