Compania de Factoring expects 550m-euro business in three years

Compania de Factoring, a company specialised in funding receivables, intends to achieve a turnover worth over 550 million euros in the next 3 years. Company representatives are counting on an accelerated growth of the factoring market, sustained by the growth in consumer spending. “In the next three years, we estimate to reach a volume of activity equal to the total level of the current market, which stands at 550 million euros, and we estimate the market will exceed 2 billion euros. The market has huge growth potential as it is currently at a very low level compared with the markets in the region, coupled with an increase in the demand for consumer goods,” Theo Hibler, chairman of Intermarket Group, which holds 50% of Compania de Factoring, told ZF. Intermarket Group is leader of the Austrian factoring services market, with a 55% market share. The company’s majority shareholder is Polish bank BRE Bank, controlled by German group Commerzbank, while its main minority shareholder is Erste Bank, with 18% of shares. Banca Transilvania group owns the remaining 50% in Compania de Factoring.