Faktoring Tatra banky enjoyed over 60% growth in first half

This development represents a year-on-year growth in factoring turnover by more than 62%, and at the same time the biggest turnover in the first half of the year ever experienced by Faktoring Tatra banky.

"This growth is down to a revival of the market thanks to economic growth, and also to the inflow of new clients with an interest in factoring financing. This proves the projection that products for financing receivables, including factoring, have a rising potential for corporate clientele in Slovakia", explains Ľubor Procházka, director of Faktoring Tatra banky.

At the same time, in the first half of the year Tatra banka confirmed its position as market leader in factoring, when its market share reached 31.2% (source: Slovak Association of Factoring Companies). The share of non-regressive factoring, i.e. without retroactive penalty for the client, accounted for a 13% share of the total volume of pre-financed receivables.

Factoring products offer clients an advantageous alternative to usual working capital overdraft financingt and their popularity has been rising again following the crisis. In addition to the actual financing of receivables, this product includes also receivables administration, or managing risk from the inability or unwillingness of the customer to pay for supplied products or services.