Two new players have recently joined the Romanian market, The Romanian Commercial Bank and Demir Bank of Romania in offering factoring services within the banking sector.
The move has been greeted with enthusiasm by Otilia Raiciof, the Head of Factoring Department at the Romanian Bank for Development. She commented that whilst the industry is still quite small in Romania, the emergence of these two new players is significant, and would probably result in the start-up of a small factoring association within the country by the end of this year. Other than this it has been a quiet year so far. The most popular products still remain the traditional ones with loans from banks as the major competitor.
