German factoring growth expected to slow

The first half of 2022 went remarkably well for the factoring industry in Germany, according to the German Factoring Association. The sales of the member companies increased compared to the first half of 2021 from €146.5bn to €182.4bn, which corresponds to an increase of 24.5 per cent compared to the same period. The number of customers increased by almost 33 per cent from 79,450 to a new record of 105,600 clients, which is also due to new members in the association. The association explains the growth of the factoring industry, among other things, by catch-up effects after the pandemic. "Factoring was once again able to prove itself as an anchor of stability and a source of liquidity in times of crisis," says Helmut Karrer, member of the board of directors of the German Factoring Association.

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