Garanti Leasing first half financing gains 68 percent to EUR 36.2 mln

Garanti Leasing first half financing soars 68 percent to EUR 36.2 mln

Newsroom 01/10/2014 | 17:24

New financing by Garanti Leasing, which is part of Turkish Garanti Group, rose by EUR 36.2 million in the first half of this year, which was an increase of 68 percent against the same period of last year, while its net profit amounted to EUR 1.3 million.

The overall leasing market rose by 22 percent year-on-year to EUR 664 million in the first semester.

Okan Yurtsever, general manager of Garanti Leasing, said: “Garanti Leasing has registered a good evolution in terms of granted leasing volumes and revenues in the last years. We expect a continuous increase of our activity in the months to come, continuing to finance projects both for the SMEs and for the public sector. Our strategy is to have a healthy development, growing our market share in a sustainable manner, as well as diversifying our portfolio of financed assets.”

Garanti said that 64 percent of the new assets it funded were vehicles, while equipments and real estate had shares of 30 percent and 6 percent, respectively.

The firm’s market share increased to 5.4 percent, versus 4 percent in the same period of last year.