Strong first quarter for Garanti

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

EBRD considering loan to Deniz and Garanti

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.

Factors accused of loan sharking

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

SMEs decry lack of lending

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

Fitch: Garanti Faktoring At BB

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