Factoring, leasing firms grow

ISTANBUL - Anatolia News Agency

Turkey’s factoring companies, leasing companies and consumer financing companies showed considerable growth last year from a year earlier, along with their rising net profits, according to data from the Banking Regulation and Supervision Agency (BDDK).

The size of factoring companies’ assets reached up to 18.17 billion Turkish Liras, with a 16 percent increase in 2012 from a year earlier, posting net profits worth 623 million liras in the same period. The size of leasing companies’ assets rose to 20.25 billion liras with an 8 percent increase. Consumer financing companies grew by 31 percent, with net profits reaching 153 million liras with a 45 percent increase.