When setting the nation's annual budget, the government must project its oil revenues for the coming year--the Benchmark Revenue--70 percent of which then constitutes the ABFA
further revealed that the level of turnover from British and Irish companies using invoice finance currently stands at pounds 62.
Credit protection payments by ABFA
members to their clients have also continued to decline, dropping by 27 per cent over the last year to total [pounds sterling]4.
reports that there were total advances to businesses of PS16bn, an increase of 2% on the same quarter last year.
Kate Sharp, the Chief Executive of the ABFA
, said, "This is the good news we've been waiting for.
The estimated average annual turnover of an ABFA
member's client has grown by 12.
The latest quarterly figures from the ABFA
(quarter four 2011) show that firms which use invoice finance are enjoying continued strong growth in their sales, up 13 per cent to year end 2011.
Managing director of Royal Bank of Scotland Invoice Finance, Morrin, was earlier placed as vice chairman of ABFA
The survey also reported that ABFA
members are predicting that turnover of companies using asset-based finance will reach pounds 259 billion this year, an increase of 12 per cent over the 2011 total of pounds 235 billion.
Kate Sharp, CEO of the ABFA
, discusses the asset based lending market and what the future is likely to hold Despite speculation surrounding access to business funding, the possibility of a double dip recession and the challenging economic backdrop of recent years, the asset based finance industry has continued to grow in 2011.
In the second quarter of 2011, lending by ABFA
members showed a fifth consecutive quarter of growth with total advances up 12 per cent year on year.