New chairman for Toprak Factoring AS

Mr. Tuluy Uluрtekin, formerly of the Saving Deposit Insurance Fund (SDIF), has been appointed chairman of the Board of Directors at Toprak Factoring AS. SDIF is the new share holder in Toprakbank

Non-bank finance - Reform firmly on the agenda

The presence of three cabinet ministers at a recent World Bank seminar on non-bank financial institutions was intended to underline the government's desire to develop Turkey's stunted financial services sector.

Unicredito Buys 50% of Koc

Italy's Unicredito Italiano SpA on Monday bought 50%of Turkey's Koc Financial Services AS, which owns the private bank Kocbank, a brokerage house, a leasing company and a factoring firm.