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.
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.