The double-digit growth of Banca Sistema’s factoring continues, reaching 3.2 billion euros of receivables purchased at the end of September 2022, with a + 26% yoy. The institute communicates this with an official note.
The Bank confirms itself as a leading operator in Italy in factoring in favor of PA suppliers and consolidates the financing activity of tax credits. The factoring offer, which represents over 70% of the revenues of the Banca Sistema Group and is the very origin of the institution founded in 2011 as a pioneer in the factoring of receivables from the Public Administration, has also included financing since 2013 of tax credits with almost 3 billion euros of credits purchased to date.
Andrea Trupia, Director of the Factoring Division of Banca Sistema, commented: “The growth of trade receivables and VAT receivables purchased, as well as numerous new customers active in various sectors, confirm the role of the Factoring Division of the Banca Sistema Group in supporting the needs of large and small and medium-sized enterprises, in particular suppliers to the Public Administration. The Banca Sistema Group supports businesses on a daily basis, flexibly supporting the needs for working capital and improving the net financial position ”.
In the current market context, factoring is reconfirmed as the ideal tool both for small and medium-sized enterprises to finance their working capital and therefore trade receivables, and for large companies such as multinationals, to improve their net financial position and obtain valid support in the collection and servicing of collections.