The Russian factoring association announces 2017 half year results

The Association of Factoring Companies (AFC) publishes preliminary data on the development of its member' business in the first half of 2017. The total receivables assets of 19 members that provided data amounted 267 billion rubles (US$4.42 billion), as per 01.07.2017 and the number of clients serviced reached 3983.

At 01.07.2017, the aggregate assets portfolio of AFC members increased by 26 per cent, representing 55 billion rubles (US$0.91 billion) more compared to first quarter of 2017 and by 24 per cent, representing 52 billion rubles (US$0.86 billion) compared to 01.07.2016. The number of active clients increased by 310 companies as compared to 01.04.2017 and by 260 compared to 01.07.2016.

Factors that are not part of the AFC (Factoring companies GPB-Factoring, Capital Factoring, St. Petersburg Factoring Co., Factoring Laboratory and Leningrad Adagio, banks - Cetelem Bank, Bank SOYUZ, UniCredit Bank, OTP Bank, Citibank, Izhkombank, as well as PRIME Factoring Group), their total portfolio as of 01.07.2017 amounted to about 60 billion rubles (US$0.99 billion) and the number of active customers reached 553.

Thus, according to preliminary data, the aggregate portfolio of the Russian factoring market at 01.07.2017 amounted 327 billion rubles (US$5.41 billion), which represents 87 billion rubles (US$1.44 billion) more than in the first half of 2016.