The Spanish Factoring Association have this month released figures detailing industry performance during the first nine months of 2001. Overall, the industry has grown 36.72% compared to the same period in 2000.
Bansabadell Factoring, Spain’s fourth largest market players by volume, have this month released figures detailing their performance during the first nine months of 2001.
BBVA Factoring, the factoring arm of Spanish bank BBVA (and the Spanish industry’s largest player with a market share of 35%), is currently developing new products to expand its activity within the administration of credit sales and payment by ins
French investment bank Natexis Banques Populaires, which has a factoring subsidiary, has received authorisation from the Bank of Spain to open a bank in the country. It previously had a representative office.
Spain’s third largest bank, Banco Popular, has declared a 13.3% increase in net profit from 497m last year to 528m and success in niche sectors such as factoring and leasing has been a significant contributor to this buoyant result.
Spain: Banks' non-performing loans had reached a record low since 1993 by the end of 1999. Most experts agree, however, that this trend has reached an end. Since January consumer non-performing loans have been increasing slowly.
The Spanish factoring sector posted a turnover of Pta2,288bn in 1999, up 42.16% on 1998 figures of Pta1,600bn, thanks to Spain's economic stability. Of this figure Pta2,181 was in domestic factoring.
