Bulgaria

Filip Genov, Executive Director of UniCredit EAD, provides an overview of the factoring market in Bulgaria, covering industry environment, market performance, supply and future trends, for the World Factoring Yearbook 2011

Filip Genov, Executive Director at UniCredit Factoring in Bulgaria, provides Factorscan with an overview of the Bulgarian factoring market covering industry environment, market performance, supply and future trends.

Filip Genov, Executive Director of UniCredit Factoring and Hasibe Mustafa, Head of International at Unicredit Factoring in Bulgaria, talk to Factorscan about the make-up of the Bulgarian factoring market, the rising significance of reverse and international factoring to the Bulgarian offering and the reasons behind the industry s continuing willingness to accept an uncertain regulatory environment.

Insolvencies have increased by 141 percent in the first nine months of 2009, according to figures released by Coface Bulgaria

The Bulgarian factoring market experienced a slowing in growth with companies extending deferred payment periods as the global financial and economic crisis increasingly effected the Bulgarian economy.

Raiffeisenbank and the EBRD have signed a second EUR 10 million Credit Line to be used to promote the financing of projects in Bulgaria.

Act on Credit Institutions tightens controls over non-bank financing companies.

The crisis has been a period of opportunity for the Bulgarian factoring market.

The EBRD extends further financial support to Allianz Bank Bulgaria.

Filip Genov, Executive Director of UniCredit Factoring EAD, Bulgaria, provides his insights into the factoring industry in Bulgaria.