Managing Factoring Risks in Hungary: A Factor’s Perspective
By Márton Nagygyörgy (Senior Manager of Daewoo Bank (Hungary) Ltd) and Károly Martinkó (Chairman-CEO of Magyar Factor Ltd) Introduction Factoring and invoice discounting is one of the fastest growing areas in the financial services sector in Hungary. General experience in the financial services industry worldwide suggests that rapid growth tends to be accompanied by two phenomena:
Some high profile ‘bad deals’ or financial scandals
Increasing government regulation
Currently the factoring industry in Hungary is lightly regulated, but that may change in the future if the government behaves as they have with regard to the Hungarian leasing industry. In the leasing industry the increasing regulatory burden and its complexity has eroded its potential market size.
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