The double-digit growth of Banca Sistema's factoring continues, exceeding 2 billion euro of credit volumes purchased as at 24 September 2019, after the already interesting start of the first half of the year with 1,4 billion euro of factoring volumes recorded as at 30/06/2019 (up 25% compared to the same period of 2018).
“We are particularly satisfied with this milestone and further growth which, in terms of volumes, confirms Banca Sistema as the leading operator in Italy specialized in factoring to the Public Administration – commented Andrea Trupia, Factoring Commercial Director of Banca Sistema -. The extension of Split Payment has had beneficial effects on the management of tax credits, which have significantly contributed to the consolidation of our business”.
“Our double-digit growth – added Trupia, citing data from Assifact – fits into the broader context of the Italian factoring market, the third largest in Europe after the United Kingdom and France, and which continues to show robust growth. As at 31 July 2019 there was an overall increase in volumes of over 10% and in the last ten years, the sector's loans to companies have doubled, demonstrating the constant and effective support provided to the real economy”.
The bank, founded in 2011, is also listed on the Milan Stock Exchange in the Star segment: in the last month, after a summer of declines, it has started a recovery that has led it to gain almost 15% in the last 30 days.
