MIRA INFORM REPORT

 

 

Report Date :

30.06.2011

 

IDENTIFICATION DETAILS

 

Name :

YAPI KREDI FINANSAL KIRALAMA ANONIM ORTAKLIGI

 

 

Registered Office :

Buyukdere Cad. Yapi Kredi Plaza A-Blok Levent Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

19.02.1987

 

 

Com. Reg. No.:

231531

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Financial leasing.  

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Turkey

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY IDENTIFICATION

 

NAME

:

YAPI KREDI FINANSAL KIRALAMA ANONIM ORTAKLIGI

HEAD OFFICE ADDRESS

:

Buyukdere Cad. Yapi Kredi Plaza A-Blok Levent Istanbul / Turkey

PHONE NUMBER

:

90-212-339 90 00

 

FAX NUMBER

:

90-212-339 91 00

 

WEB-ADDRESS

:

www.yapikredileasing.com.tr

E-MAIL

:

info@ykleasing.com.tr

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Bogazici Kurumlar

TAX NO

:

9370017457

REGISTRATION NUMBER

:

231531

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

19.02.1987

ESTABLISHMENT GAZETTE DATE/NO

:

24.02.1987/1710

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

 

AUTHORIZED CAPITAL

:

389.927.705 TL

PAID-IN CAPITAL

:

389.927.705 TL

HISTORY

:

Previous Address

:

Buyukdere Caddesi No:161 80506 Zincirlikuyu Besiktas-Istanbul

Changed On

:

26.07.2006 (Commercial Gazette Date /Number 31.07.2006/ 6610)

Previous Address

:

Barbaros Bulvari Morbasan Sokak Koza Ismerkezi C-Blok Balmumcu Besiktas Istanbul

Changed On

:

16.09.2010 (Commercial Gazette Date /Number 22.09.2010/ 7653)

Merger

:

“Yapi Kredi Finansal Kiralama Anonim Ortakligi” took over and merged with “Koc Finansal Kiralama A.S.” under the name of “Yapi Kredi Finansal Kiralama Anonim Ortakligi”

Changed On

:

25.12.2006 (Commercial Gazette Date /Number 28.12.2006/ 6714)

Other Changes

:

The paid-in capital was increased from TL 102.000.000 to TL 389.927.705

Changed On

:

25.12.2006 (Commercial Gazette Date /Number 28.12.2006/ 6714)

 

 

OWNERSHIP / MANAGEMENT

 

NOTES ON OWNERSHIP / MANAGEMENT

 

:

Quoted at Stock Exchange.

SHAREHOLDERS

:

Yapi ve Kredi Bankasi A.S.

98,85 %

Zer Merkezi Hizmetler A.S.

0,74 %

Open to Public

0,41 %

 

 

REMARKS ON SHAREHOLDERS

:

Yapi ve Kredi Bankasi A.S. has been ranked as the 5th largest bank of Turkey in view of its "total assets" within 44 banks in Turkey as of 31.03.2011.

 

GROUP

:

KOC GROUP OF COMPANIES

 

GROUP PARENT COMPANY

:

KOC HOLDING A.S.

 

SISTER COMPANIES

:

AKPA DAYANIKLI TUKETIM LPG VE AKARYAKIT URUNLERI PAZARLAMA A.S.

ARCELIK A.S.

ARCELIK-LG KLIMA SANAYI VE TICARET A.S.

ARK INSAAT SANAYI VE TICARET A.S.

AYGAZ A.S.

AYGAZ DOGAL GAZ ILETIM A.S.

AYGAZ DOGAL GAZ TOPTAN SATIS A.S.

BEKO CESKO S.R.O.

BEKO DEUTSCHLAND GMBH

BEKO ELECTRICAL APPLIANCES CO. LTD.

BEKO ELEKTRONICS ESPANA S.L.

BEKO FRANCE S.A

BEKO ITALY S.R.L.

BEKO LLC

BEKO PLC

BEKO S.A.

BEKO SHANGHAI TRADING CO.

BEKO SLOVAKIA S.R.O

BILKOM BILISIM HIZMETLERI A.S.

CENGELHAN OTELCILIK TURIZM ORGANIZASYON INSAAT VE RESTORASYON A.S.

DEMIR EXPORT A.S.

DITAS DENIZ ISLETMECILIGI VE TANKERCILIGI A.S.

DUZEY TUKETIM MALLARI SANAYI PAZARLAMA VE TICARET A.S.

ELEKTRA BREGENZ AG

ENERJI YATIRIMLARI A.S.

ENTEK ELEKTRIK URETIMI A.S.

FORD OTOMOTIV SANAYI A.S.

GRUNDIG MULTIMEDIA B.V.

HARRANOVA BESI VE TARIM URUNLERI A.S.

INVENTRAM FIKRI MULKIYET HAKLARI YONETIM TICARET VE YATIRIM A.S.

KATRON SAVUNMA UZAY VE SIMULASYON TEKNOLOJILERI A.S.

KOC BILGI VE SAVUNMA TEKNOLOJILERI A.S.

KOC FIAT KREDI TUKETICI FINANSMANI A.S.

KOC FINANSAL HIZMETLER A.S.

KOC HOLDING A.S.

KOC HOLDING EMEKLI VE YARDIM SANDIGI VAKFI

KOC SISTEM BILGI VE ILETISIM HIZMETLERI A.S.

KOC TUKETICI FINANSMANI A.S.

KOC YAPI MALZEMELERI TICARET A.S.

KOCNET HABERLESME TEKNOLOJILERI VE ILETISIM HIZMETLERI A.S.

KOCTAS YAPI MARKETLERI TICARET A.S.

MOGAZ PETROL GAZLARI A.S.

OPET FUCHS MADENI YAG SANAYI VE TICARET A.S.

OPET INTERNATIONAL LONDON LTD

OPET PETROLCULUK A.S.

OPET TRADE (SINGAPORE) PTE. LTD.

OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.

OTOKOC OTOMOTIV TICARET VE SANAYI A.S.

OTOKOC SIGORTA ARACILIK HIZMETLERI A.S.

PALMIRA TURIZM TICARET A.S

PROMENA ELEKTRONIK TICARET A.S.

RAM DIS TICARET A.S.

RMK MARINE GEMI YAPIM SANAYII VE DENIZ TASIMACILIGI ISLETMESI A.S.

SC ARTIC S.A

SETAIR HAVA TASIMACILIGI VE HIZMETLERI A.S.

SETUR SERVIS TURISTIK A.S.

TANI PAZARLAMA VE ILETISIM HIZMETLERI A.S.

TAT KONSERVE SANAYI A.S.

TAT TOHUMCULUK A.S.

TEMEL TICARET VE YATIRIM A.S.

TOFAS TURK OTOMOBIL FABRIKASI A.S.

TURK TRAKTOR VE ZIRAAT MAKINELERI A.S.

TURKIYE PETROL RAFINERILERI A.S. (TUPRAS)

VEHBI KOC VAKFI

YAPI KREDI B TIPI YATIRIM ORTAKLIGI A.S.

YAPI KREDI BANK AZERBAYCAN

YAPI KREDI BANK MOSKOW

YAPI KREDI BANK NEDERLAND N.V.

YAPI KREDI EMEKLILIK A.S.

YAPI KREDI FAKTORING A.S.

YAPI KREDI KULTUR SANAT YAYINCILIK TICARET VE SANAYI A.S.

YAPI KREDI PORTFOY YONETIMI A.S.

YAPI KREDI SIGORTA A.S.

YAPI KREDI YATIRIM MENKUL DEGERLER A.S.

YAPI KREDI-KORAY GAYRIMENKUL YATIRIM ORTAKLIGI A.S.

YAPI VE KREDI BANKASI A.S.

ZER MERKEZI HIZMETLER VE TICARET A.S.

 

BOARD OF DIRECTORS

:

Huseyin Faik Acikalin

Chairman

Carlo Vivaldi

Vice-Chairman

Marco Cravario

Member

Mert Guvenen

Member

Nurgun Eyuboglu

Member

Wolfgang Schilk

Member

 

 

DIRECTORS

:

Nurgun Eyuboglu

General Manager

Inci Tumay Kesici

Deputy General Manager

Sevgi Levent

Deputy General Manager

Tanju Fatih Torun

Deputy General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Financial leasing.  

 

NACE CODE

:

J.65.21

 

SECTOR

:

Finance

 

NUMBER OF EMPLOYEES

:

128

 

 

 

NET SALES

:

113.101 TL Thousand

(2005)

165.615 TL Thousand

(2006)

263.172 TL Thousand

(2007)

298.760 TL Thousand

(2008)

255.209 TL Thousand

(2009)

200.132 TL Thousand

(2010)

51.309 TL Thousand

(01.01-31.03.2011)

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

HEAD OFFICE ADDRESS

:

Buyukdere Cad. Yapi Kredi Plaza A-Blok Levent  Istanbul / Turkey

 

BRANCHES

:

Regional Directorate  :  Gazi Bulvari No:3 Kat:4 35210 Pasaport Izmir/Turkey

 

Regional Directorate  :  Kiziltoprak Mahallesi Aspendos Bulvari No:35 Antalya/Turkey

 

Regional Directorate  :  Ataturk Bulvari No:93 K:5 Kizilay Ankara/Turkey

 

Regional Directorate  :  Karasoku Mahallesi Kizilay Caddesi No: 58 Seyhan Adana/Turkey

 

Regional Directorate  :  Mucahitle Mah. Gazi Muhtarpasa Bulvari Mutlu Apt.No:6 Sehitkamil Gaziantep/Turkey

 

Regional Directorate  :  Ulubatli Hasan Bulvari No:59 Kat:5 Osmangazi Bursa/Turkey

 

Branch Office  :  Asirefendi Cad.No:99/101 Sultanhamam - Eminonu Istanbul/Turkey

 

Branch Office  :  Postane Mah. Tahaffuzhane Cad. Muhendis Sok. No:32 Tuzla Istanbul/Turkey

 

Branch Office  :  Sehit Muhtar Caddesi No:5 Kat:6 Taksim Istanbul/Turkey

 

Branch Office  :  Evren Mahallesi Kocman Caddesi Ziyal Plaza A-B Blok K:1 34560 Gunesli Istanbul/Turkey

 

Branch Office  :  Kozyatagi Mahallesi Sehit Mehmet Fatih Ongul Sk.No:1 Kat 4 Kozyatagi Istanbul/Turkey

 

 

TREND OF BUSINESS

:

There was decline at business volume in nominal terms in 2009 and 2010.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Yapi ve Kredi Bankasi Merkez Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

 

COMMENT ON FINANCIAL POSITION

 

General Financial Position

Fair

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 01.01-30.09.2010)

6,52 %

1,5178

2,0112

2,3426

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-31.03.2011)

5,40 %

1,5753

2,1664

2,5072

 ( 01.01-31.05.2011)

6,20 %

1,5693

2,2036

2,5324

 

 

BALANCE SHEETS

 

 

 ( 31.12.2008 )  TL Thousand

 ( 31.12.2009 )  TL Thousand

 ( 31.12.2010 )  TL Thousand

 ( 31.03.2011 )  TL Thousand

Cash And Balances With The Central Bank Of Turkey

0

0

0

0

Financial Assets Where Fair Value Change Is Reflected To Income Statement (Net)

9.883

4.885

6.322

7.639

Banks

3.650

12.035

5.837

26.102

Money Market Securities

0

0

0

0

Financial Assets Available For Sale (Net)    

73

80

88

88

Loans

0

0

0

0

Loans Under Follow-Up

97.825

138.977

121.102

108.573

Factoring Receivables

0

0

0

0

Investments Held To Maturity (Net)

0

0

0

0

Affiliates (Net)  

0

0

0

0

Subsidiaries (Net)

0

0

0

0

Joint Ventures (Business Partners) (Net)  

0

0

0

0

Receivables From Leasing Transactions (Net)

2.648.806

2.067.174

1.947.509

2.007.962

Derivative Financial Assets Held For Hedging

0

0

0

0

Fixed Assets (Net)

580

662

788

805

Intangible Assets [Net]

552

875

1.296

1.282

Real Estates For Investment Purpose (Net)

0

0

0

0

Assets For Tax

0

0

0

85.899

Property And Equipment Held For Sale Purpose And Held From Terminated Operations (Net)

1.715

1.715

3.039

2.872

Other Assets

72.955

120.443

115.349

23.450

Not Detailed Total Assets

0

0

0

0

TOTAL ASSETS

2.836.039

2.346.846

2.201.330

2.264.672

LIABILITIES

2.219.869

1.646.343

1.466.123

1.502.446

Deposits

0

0

0

0

Derivative Financial Liabilities Held For Trading

3.957

320

1.361

49

Funds Borrowed

2.132.863

1.543.791

1.342.506

1.380.470

Interbank Money Market

0

0

0

0

Marketable Securities Issued (Net)  

0

0

0

0

Funds

0

0

0

0

Miscellaneous Payables

28.987

40.709

64.346

62.308

Other External Resources

18.281

29.036

28.480

30.438

Factoring Payables

27

0

0

0

Leasing Transactions Payables

0

0

0

0

Derivative Financial Liabilities Held For Hedging

0

0

0

0

Provisions

35.294

24.549

22.822

21.825

Liabilities For Tax

460

7.938

6.608

7.356

Liabilities For Property And Equipment Held For Sale Purpose And Held From Terminated Operations

0

0

0

0

Subordinated Loans

0

0

0

0

Not Detailed Liabilities

0

0

0

0

STOCKHOLDERS' EQUITY

616.170

700.503

735.207

762.226

Not Detailed Stockholders' Equity

0

0

0

0

Paid-in capital

389.928

389.928

389.928

389.928

Revaluation Fund

-34.598

-34.598

-34.598

-34.598

Reserves

38.550

105.549

198.621

379.876

Minority Interest

0

0

0

0

Accumulated profit/loss

89.491

89.491

89.491

0

Net Profit/Loss

132.799

150.133

91.765

27.020

TOTAL LIABILITIES AND EQUITY

2.836.039

2.346.846

2.201.330

2.264.672

 

INCOME STATEMENTS

 

 

(2008) TL Thousand

(2009) TL Thousand

(2010) TL Thousand

(01.01-31.03.2011) TL Thousand

Interest Income

298.760

255.209

200.132

51.309

Interest Expenses

-21.438

-23.425

-24.431

-5.645

Net Interest Income/Expenses

277.322

231.784

175.701

45.664

Net Fees And Commissions Income/Expenses

0

0

0

0

Dividend Income

0

0

0

0

Trading Profit/Loss (Net)

0

0

0

0

Other Operating Income

1.285.559

769.800

633.123

30.247

Total Operating Income/Expenses

1.562.881

1.001.584

808.824

75.911

Provision For Loan Or Other Receivables Losses (-)

-83.564

-115.925

-116.018

-18.386

Other Operating Expenses (-)

-1.230.492

-695.043

-537.732

-13.021

Financial Expenses

-121.350

-91.273

-42.888

-10.558

Net Operating Profit/Loss

127.475

99.343

112.186

33.946

Surplus Written As Gain After Merger

0

0

0

0

Profit/Loss From Equity Method Applied Subsidiaries

0

0

0

0

Net Monetary Position Gain/Loss

0

0

0

0

Profit/Loss Before Taxes From Continuing Operations

127.475

99.343

112.186

33.946

Provision For Taxes On Income From Continuing Operations (±)

5.324

50.790

-20.421

-6.926

Net Profit/Loss From Continuing Operations

132.799

150.133

91.765

27.020

Income From Terminated Operations

0

0

0

0

Expenses From Terminated Operations  (-)

0

0

0

0

Profit/Loss Before Taxes From Terminated Operations

0

0

0

0

Provision For Taxes On Income From Terminated Operations (±)

0

0

0

0

Net Profit/Loss From Terminated Operations

0

0

0

0

Net Profit/Loss

132.799

150.133

91.765

27.020

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.71.91

Euro

1

Rs.64.60

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.