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Report No. : |
317250 |
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Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
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Name : |
GARANTI FINANSAL KIRALAMA A.S. |
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Registered Office : |
Maslak Mah.Eski Buyukdere Cad. No.23 Sariyer Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
09.10.1990 |
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Com. Reg. No.: |
269116 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Financial leasing |
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No. of Employees : |
229 (Including Subsidiary) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Turkey |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TURKEY- ECONOMIC
OVERVIEW
Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian region to market. Several gas pipeline projects also are moving forward to help transport Caspian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas which currently meets 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis, and GDP rebounded strongly to around 9% in 2010-11, as exports returned to normal levels following the recession. Growth has dropped to roughly 2-4% in 2013-14. Turkey's public sector debt to GDP ratio has fallen below 40%, and two rating agencies upgraded Turkey's debt to investment grade in 2012 and 2013. Turkey remains dependent on often volatile, short-term investment to finance its large current account deficit. The stock value of FDI reached nearly $195 billion at year-end 2014, reflecting Turkey's robust growth even in the face of economic turmoil in Europe, the source of most of Turkey's foreign direct investment. Turkey's relatively high current account deficit, domestic political uncertainty, and turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.
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Source
: CIA |
Address at your inquiry is the former address.
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NAME |
: |
GARANTI FINANSAL KIRALAMA A.S. |
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HEAD OFFICE ADDRESS |
: |
Maslak Mah.Eski Buyukdere Cad. No.23 Sariyer Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-365 30 00 |
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FAX NUMBER |
: |
90-212-365 30 01 |
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WEB-ADDRESS |
: |
www.garantileasing.com.tr |
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|
: |
info@garantileasing.com.tr |
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TAX OFFICE |
: |
Bogazici Kurumlar |
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TAX NO |
: |
3890006348 |
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REGISTRATION NUMBER |
: |
269116 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
09.10.1990 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
15.10.1990/2630 |
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LEGAL
FORM |
: |
Joint
Stock Company |
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TYPE
OF COMPANY |
: |
Private |
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REGISTERED
CAPITAL |
: |
350.000.000
TL |
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PAID-IN
CAPITAL |
: |
350.000.000
TL |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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REMARKS ON SHAREHOLDERS |
: |
The main shareholder "Turkiye Garanti Bankasi
A.S." has been ranked as the 3rd largest bank of Turkey in view of its
“total assets” within 46 banks in Turkey as of 30.09.2014. |
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SUBSIDIARIES |
: |
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BOARD OF DIRECTORS |
: |
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DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Financial leasing. |
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NACE CODE |
: |
J .65.21 |
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SECTOR |
: |
Finance |
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NUMBER OF EMPLOYEES |
: |
229 |
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REMARKS ON NUMBER OF EMPLOYEES |
: |
The number of employees includes the employees of subsidiary. |
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NET SALES |
: |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT COUNTRIES |
: |
Germany Switzerland U.S.A. Japan |
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MERCHANDISE IMPORTED |
: |
Investment goods |
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HEAD OFFICE ADDRESS |
: |
Maslak Mah.Eski Buyukdere Cad. No.23 Sariyer Istanbul / Turkey (owned) |
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SIZE OF BUSINESS |
: |
Giant |
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MAIN DEALING BANKS |
: |
Garanti Bankasi Istanbul Kurumsal Branch |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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General Financial Position |
Fair |
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NOTES ON FINANCIAL STATEMENTS |
: |
Financial statements are consolidated. |
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( 31.12.2013 ) TL Thousand |
( 31.12.2014 ) TL Thousand |
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Cash And Balances With The Central Bank Of Turkey |
122 |
2 |
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Financial Assets Where Fair Value Change Is Reflected To Income Statement (Net) |
617 |
9.079 |
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Banks |
7.312 |
85.019 |
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Money Market Securities |
0 |
0 |
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Financial Assets Available For Sale (Net) |
0 |
0 |
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Loans |
67.759 |
95.663 |
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Loans Under Follow-Up |
185.745 |
146.640 |
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Factoring Receivables |
0 |
0 |
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Investments Held To Maturity (Net) |
0 |
0 |
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Affiliates (Net) |
0 |
0 |
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Subsidiaries (Net) |
0 |
0 |
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Joint Ventures (Business Partners) (Net) |
0 |
0 |
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Receivables From Leasing Transactions (Net) |
3.353.214 |
3.753.510 |
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Derivative Financial Assets Held For Hedging |
0 |
0 |
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Fixed Assets (Net) |
357.106 |
551.434 |
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Intangible Assets [Net] |
3.958 |
6.076 |
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Real Estates For Investment Purpose (Net) |
0 |
0 |
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Assets For Tax |
0 |
19.251 |
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Property And Equipment Held For Sale Purpose And Held From Terminated Operations (Net) |
1.407 |
1.433 |
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Other Assets |
78.554 |
83.068 |
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Not Detailed Total Assets |
0 |
0 |
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TOTAL ASSETS |
4.055.794 |
4.751.175 |
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LIABILITIES |
3.455.094 |
4.009.341 |
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Deposits |
0 |
0 |
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Derivative Financial Liabilities Held For Trading |
16.292 |
1.016 |
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Funds Borrowed |
3.030.760 |
3.443.667 |
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Interbank Money Market |
0 |
0 |
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Marketable Securities Issued (Net) |
241.984 |
353.394 |
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Funds |
0 |
0 |
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Miscellaneous Payables |
129.657 |
174.255 |
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Other External Resources |
2.536 |
260 |
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Factoring Payables |
0 |
0 |
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Leasing Transactions Payables |
0 |
0 |
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Derivative Financial Liabilities Held For Hedging |
0 |
0 |
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Provisions |
7.276 |
6.588 |
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Liabilities For Tax |
26.589 |
30.161 |
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Liabilities For Property And Equipment Held For Sale Purpose And Held From Terminated Operations |
0 |
0 |
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Subordinated Loans |
0 |
0 |
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Not Detailed Liabilities |
0 |
0 |
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STOCKHOLDERS' EQUITY |
600.700 |
741.834 |
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Not Detailed Stockholders' Equity |
0 |
0 |
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Paid-in capital |
73.000 |
350.000 |
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Revaluation Fund |
-337 |
-642 |
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Reserves |
324.610 |
259.448 |
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Minority Interest |
0 |
0 |
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Accumulated profit/loss |
150.283 |
0 |
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Net Profit/Loss |
53.144 |
133.028 |
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TOTAL LIABILITIES AND EQUITY |
4.055.794 |
4.751.175 |
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REMARKS ON FINANCIAL STATEMENT |
: |
The financial statements 2013 of "Garanti Finansal Kiralama A.S." have been prepared by the consolidation of the financial statements of the following firms:"Garanti Filo Yonetim Hizmetleri ve Ticaret A.S.". The financial statements 2014 of "Garanti Finansal Kiralama A.S." have been prepared by the consolidation of the financial statements of the following firms:"Garanti Filo Yonetim Hizmetleri ve Ticaret A.S." and "Garanti Filo Sigorta Aracilik Hizmetleri A.S." |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.62.37 |
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|
1 |
Rs.93.10 |
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Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
VNT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.