Top Factoring: Average value of receivables up by 20 pct in 2016 to RON 900

The average value of an uncollected receivables went up by 20 percent to RON 900 in 2016 compared with 2015, according to the portfolio analysis of Top Factoring, one of the main local companies from claims recovery sector.

„The growth of the average value of unpaid claims in 2016 resulted in the average value of unpaid back payments. In 2016 a debtor paid on average RON 260 compared with RON 245 in 2015,” said Catalin Neagu, general director of Top Factoring.

The claims recovery market registered significant growths in 2016 compared with 2015, so that Top Factoring had a portfolio worth EUR 368 million in 2016.

In the top clients with the highest share in the total value of turnover, the first place was occupied by portfolios from banking field, followed by telecommunications and insurance, utilities and services. The highest acquisition for Top Factoring in which it was asset manager in 2016 was a banking portfolio of EUR 9.6 million.

Top Factoring plans to expand its clients portfolio, aiming a growth by 20 percent in the revenues generated by B2B clients in 2017.

„Another important direction that we prepare is to close partnerships with investment funds for the acquisition of portfolios where to collaborate as asset manager,” added Neagu.

From legal perspective, the main challenges of this year will be the training of personnel and the collection strategies adaption to the possible enforcement of bankruptcy law of individuals from August.