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.
Demir Factoring, the largest of Turkey’s 95 factors with 8.9% market share in 1999, is facing an uncertain future.
| Turkey’s Factoring Turnover (US$m) | 30/06/2000 | 30/06/2001 |
| Export | 360,086 |
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.
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’.
The Turkish Factoring Association has released its half-yearly figures for 2000. They are as follows:
A report on 3 August 2000 has revealed that there has been a 2.2% increase in consumer price inflation for July.
The government has succeeded in reducing interest rates to between 25-35%, which means that factors are having to operate under very small margins.