Turkey

Garanti Factoring succeeded in increasing its first quarter earnings by 39%, with net profits reaching 2.5 million TL for 2009.

The EBRD is considering providing EUR 20 million senior loans to each of Deniz Bank (DB) and Garanti Bank (GB) to on-lend to Micro, Small and Medium Enterprises (MSMEs) in Turkey.

Finance Ministry investigating factoring services that have made unfair profits by taking advantage of the ongoing global financial crisis.

European Union's Small Business Credit Programme extends 20 million euros to Garanti Bank.

Turkish business leaders have highlighted limited access to funding as being a key concern for Turkish businesses in the downturn.

Turkish government extending loan support scheme to SME manufacturers and exporters

Garanti Factoring post strong results for their 2008 operations

The latest Fitch ratings, released today, have affirmed Garanti Factoring long-term foreign currency Issuer Default Rating at 'BB'

The effects of the global crisis in Turkey are boosting usury, a financing method to make excessive profit by providing money to those in need.

The World Bank has approved a US$200m loan for Turkey's 'Access to Finance for SMEs' project