EU Federation for the Factoring and Commercial Finance Industry

Making waves in Brussels

John Gielen, the Independent Chairman of the EU Federation (EUF) and John Brehcist, EUF Co-ordinator, talk to BCR Factorscan about the role of the EUF in promoting the offering in Brussels, the opportunities presented to the industry by the downturn and the level of coverage that the EUF enjoys within Europe’s factoring community.   

Factoring and Commercial Finance Industry in the EU outperforms GDP

The total turnover for the factoring and commercial finance industry in 2009 in the EU was 827.516 million EUR representing a decrease of only 1.9 % as measured against the 2008 figures.

When compared with a 4% drop in EU GDP and a 3.14% drop in the worldwide factoring market this small decline evidences the robustness of the industry in Europe when compared to general economic growth and to its counterparts worldwide. Given that EU factoring turnover represents almost 70% of the world factoring turnover this is an impressive achievement. 

New Committee – Economics and Statistics Committee

Following its last EXCOM meetings EUF has a new Committee:

• Economics and Statistics Committee (ESC)

The new committee has the mission to gather relevant and valid statistics about the factoring and commercial finance industry as well as preparing a “standard glossary” for the industry.

The Committee is to be chaired by Assifact and the first meeting is foreseen for June.

New member joins EUF – CLFA, Czech Republic

EUF is pleased to announce that it has recently received the member application form from:

• Czech Leasing and Finance Association (CLFA)

The Executive Committee has warmly and unanimously approved their membership.

EUF has at this moment 14 members (12 National and 2 International Associations) which cover more than 92% of the market share in EU.

We wish CLFA a lot of success within the federation.   

EUF meetings with M.E.P.'s

EUF members started a series of bilateral meetings with Members of the European Parliament to inform them about the creation of a representative body for the the factoring industry in EU and discuss about our latest initiatives.

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