In November 2009 the Russian Association of Factoring Companies (AFC) conducted its first  survey of the Russian factoring market.

The survey involved 17 organizations, of which 12 banks and 5 factoring companies, representing approximately  84% of the total turnover  of the Russian factoring market. The members of AFC account for  64% of the factoring market.

The factoring turnover registered for 9 months 2009 is about 188 billion rubles, which represents a 36% increase compared to half year results. According to our estimates, the volume of the whole factoring market (including factors which did not participate in the survey) is about 215 billion rubles. If the growth rates will remain at the same level, the volume of the factoring market at the end of the year could reach 320 billion rubles, compared to 602 billion in 2008.

Speaking of product breakdown, the Russian factoring market is still predominantly a recourse market: the share of  recourse factoring  is 77%, while  non recourse, collection only and international factoring account for 13%, 9% and 1% respectively.

The volume  of financing extended to clients for 9 months 2009 amounted to 136 billion rubles, which means that receivables are financed on average at 72%.

The number of clients using factoring  was 2300 , of which 720 were new clients. The number of debtors amounted to 12 000, of which 3208 were new debtors. The average number of debtors per one client was 6. 

The full version of the survey is available for downloading (in Russian only) on the web-site of AFC: http://www.asfact.ru/.