The French factoring market returned to growth
strongly last year, experiencing double digit uplifts in volume for
each quarter, against 2009.
Business volume rose 19.4 percent to €153.3
billion compared to 2009, figures from Association Française des
Sociétés Financières (ASF) show.
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Growth for the final quarter of 2010 was 15.1
percent, continuing the strong performance throughout the year. In
Q1, volume was up 19 percent, the best quarterly performance since
summer 2007. The trend continued into Q2, which saw 23.3 percent
growth, and through Q3, which was up 21.5 percent.
Growth was relatively lower in Q4
2010 because a recovery was already already beginning to be felt
during the comparable period in 2009.
Factoring in France had dropped by 3.6 percent
in 2009 as a whole, the first such annual decline for almost 40
years.
France has the second largest factoring market
in the world behind the UK. It represents 15 percent of the total
market in Europe, and 10 percent globally.
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By GlobalDataclaire.hack@vrlfinancialnews.com
