Turkey

Factoring Association passes the baton to the Union of financial institutions.

The European Bank for Reconstruction and Development (EBRD) is channelling up to US$100 million (up to EUR73 million) to one of its largest partner banks in Turkey, Garanti Bank, which will use the proceeds to increase SME lending in economically depressed regions.

Factoring, financial leasing and financing companies form umbrella, public institution.

Garanti Factoring and the credit insurer Coface sign cooperation agreement.

Garanti Factoring opens 10 new branches.

Erkan Coplugil, Executive Vice President at Garanti Faktoring Hiz. A.S. offers his views on the Turkish factoring market in an interview with Michael Bickers for Factorscan. Garanti Faktoring is one of the first factoring companies in Turkey and is a member of one of Turkey's largest financial services groups.

Fitch gives Garanti Factoring a long-term foreign currency Issuer Default Rating (IDR) of 'BBB' with Stable Outlook.

Cagdas Faktoring announced covered bond issue.

BRSA updated principles for the establishment and operation of financial leasing, factoring and consumer finance companies.