Romania

The factoring market recorded a positive evolution this year, with y-o-y growth of 40%, however the negative influences of the global crisis spread to this form of funding as well

Demand for trade credit insurance rose by 50% in October

More expensive credits and companies limited access to banking loans will lead to a 30% advance of the factoring market in Romania

Financial sector companies increased their capital by more than EUR320m in the first seven months of the year, according to data provided by Romania's Trade Registry Office

Banca Romana de Dezvoltare (BRD), Romania's second-largest bank in terms of assets, had factoring operations worth RON 1.1bn (€300m) in the first half of the year, 156% higher than in H1 2007.

Eximbank Romania will open its second unit in the southeastern city of Buzau, the bank said.

The local debt collection market will increase by some 50 per cent in 2008.

There has been a 50 per cent increase in filings for bankruptcy and insolvency in the first year since Romania entered the European Union.

Coface Romania registered 3.3m in turnover last year, increased by 129% compared to the figure registered in 2006, the company announced.