France’s factoring business declined 3.6
percent in 2009, according to the country’s leasing and factoring
association, Association Française des Sociétés Financières
(ASF).
ASF figures revealed a drop to €128.2 billion
from €135 billion in 2008, which followed a period of constant
growth (on average, a 15 percent growth yearly between 2004 and
2008).
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New factoring business dropped during the
first three quarters of 2009 by an average of 6 percent, and
achieved a “modest growth” only in the fourth quarter of the year
(3.2 percent compared to the same quarter in 2008).
The share of international business increased
from 7.3 percent in 2003 to 14.5 percent in 2009.
In 2008, the French factoring industry was
ranked second in the world, behind the UK.
Antonio Fabrizio
