ADB: Factoring volume could reach $1.7 billion within 3 years in Azerbaijan

Factoring volume in Azerbaijan could reach $1.7 billion within 3 years based on current GDP penetration rates of similar markets in the region, the Asian Development Bank (ADB) said, Report informs.

“The market for factoring services in the country is limited, with only a few banks and nonbank financing companies offering these services. IFC-supported Azerbaijan Financial Advisory Services program includes the establishment of an electronic movable collateral registry to track assets pledged as collateral by small businesses, thereby enhancing lenders’ confidence in lending to these businesses,” ADB said.