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Turkey

Uncertainty Regarding Fate of Demir Factoring

Demir Factoring, the largest of Turkey’s 95 factors with 8.9% market share in 1999, is facing an uncertain future.

Half-Year Turnover Figures Show Impact of Financial Crises

Turkey’s Factoring Turnover (US$m) 30/06/2000 30/06/2001 
Export  360,086 

Rumours Continue to Surround the Future of Demirbank

The rumour-mill regarding the future of Demir bank, the owner of one of the Turkish factoring industry’s major players, is continuing to work overtime as a variety of potential buyers are mooted.

Aktif Finans Factoring Assigned ‘BB Minus’ Foreign Currency Rating

The international rating agency, Fitch, has assigned a senior unsecured foreign currency rating of ‘BB-’ (BB minus) to Aktif Finans Factoring and a senior unsecured local currency rating of ‘BB’.

First Half Figures from Turkish Factoring Association

The Turkish Factoring Association has released its half-yearly figures for 2000. They are as follows:

Disappointment as Inflation Continues to Increase.

A report on 3 August 2000 has revealed that there has been a 2.2% increase in consumer price inflation for July.

Reduced Margins could Dramatically Reduce Numbers of Factors

The government has succeeded in reducing interest rates to between 25-35%, which means that factors are having to operate under very small margins.

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