EU Factoring and Commercial Finance grew by over 5,4% in 2015
Data collated by the EU Federation for the Factoring and Commercial Finance Industry (EUF) indicates that in 2015, factoring and commercial finance volumes in the EU overall grew by over 5,4% to €1.47 Trillion.
This continued year on year growth confirms yet again the increasingly important role played by the factoring industry in sustaining liquidity of businesses and boosting the fragile economic recovery. Growth in this type of funding continues significantly to outstrip GDP growth in the Region and confirms its importance in the funding of the real economy.
The newly elected Chairman of the EUF, Erik Timmermans, noted: "The continued growth in total turnover again clearly demonstrates that the EU economy is using Commercial Finance as a source of finance to build and sustain business operations. With the total turnover representing over ten percent of the EU GDP, it’s increasingly clear that this form of funding is a central and critical part of the financial mechanisms that support and encourage European business."
Please find the Press release with turnover volumes by country here: