BCR Publishing

Analysis 2002/2003

Germany

MARKET PERFORMANCE AND SUPPLY The members of the German Factoring Association (GFA), representing over 95% of the market, achieved a total volume of €35.08 billion in 2003, 16.3% more than the €30 billion achieved in 2002. This growth rate compares favourably with previous years, where the performance of GFA’s members was damaged by significant client losses, changes to operations and the poor economic climate that permeated most of Europe’s markets. Turnover and Market Share of German Factors 2

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