The leaders in the factoring market saw a reduction of business in the second quarter. The role played by coronaries and the bet to Finance major customers, which have significantly reduced activity. However, in the second half, the market will return to growth — prospects of development of factoring associated with new industries and forms of work.In the first half of 2020, the total income of factors amounted to 28 billion rubles, 8% more than in the same period last year. This result can be largely attributed to the successes of the first quarter, when the factors earned 14.9 billion rubles, which is 13.4% more second-quarter results, according to the study of the NKR and of the Association of factoring companies (AFC), which read “y”.The largest factoring company in the Russian market — “Sberbank Factoring VTB Factoring”, “GPB” Factoring, Promsvyazbank and Alfa Bank. Their share in the total portfolio is nearly 80%. However, over the past six months, not all of them showed growth. “VTB Factoring” and “Factoring savings Bank”, occupying the first two places, reduced the scale of business, the study said. In the second quarter in comparison with indicators of January—March the amount paid to them funding decreased by 14% and 11%, respectively, while the value of the portfolio by 11% and 15%. Such dynamics was primarily due to the negative impact of a pandemic and quarantine measures, which has led to a sharp decline in economic activity, as well as some tightening of lending policies factors, says Director—head of Bank ratings Agency NKR Mikhail Doronkin. Moreover, the dynamics of the portfolios could have affected the completion of major contracts in the second quarter, he adds. The distribution of ceded and financed receivables blocks unevenly, recalls CEO “Sberbank Factoring” Igor Lysenko. According to him, the company’s portfolio grows, the number of active customers and suppliers of the debtors, as in the SME segment and large businesses. The industry was faced with a situation of forced slowdown caused by the pandemic and reducing the volume of sales of the largest companies that are at the core of our customer base, agrees the General Director of “VTB Factoring” Anton Musatov. About 86% of the portfolio of “VTB Factoring” are the backbone of the enterprise, he recalls.The big players, in contrast, was able to take advantage of the situation. Alfa-Bank, “Gazprombank Factoring” and Promsvyazbank consolidated their positions, says the report of the NKR and the AFC. Thus, the portfolio of Alfa-Bank grew in the second quarter by 9%, “Gazprombank-Factoring” — 8%. Promsvyazbank has increased its payout by 5%, provided in the study data. “The limitations associated with panaemia, in the second quarter led to a reduction of stocks in several industries and, consequently, to increased needs for working capital,— says the managing Director of factoring at Promsvyazbank innocent Volovik.— This has increased the demand for factoring”.Prospects of development of factoring associated with new industries and new formats of work, experts believe. “Right now the dominant amount of funding is associated with risk taking at the largest holding companies with high credit ratings, but the long-term development of factoring will be linked to the introduction of grocery programs related to non-recourse financing risk for the company’s second and third echelons”— said Mr. Volovik. “During the turbulence in the economy the amount of receivables in some sectors may be reduced, for example in the oil and gas industry. And increase in other sectors: growing DIY segment, metallurgy and transport”, adds Igor Lysenko.Polina Trifonova
