Garanti Factoring closed the year 2009 with a significant increase of 42% in earnings and achieved a net profit of 10 million TL as of the year end.

Mr. Cengiz Ucbasaran , General Manager of the company said: " Garanti Factoring continues its positive trend in profitability, client numbers, market penetration and market share. Garanti Factoring 2009 balance sheet result is a real indicator of the company's ongoing support to the real sector through the financial turmoil."

He also emphasized: " Garanti Factoring successfully continued its sustainable growth in 2009 and achieved USD 5.85 billion turnover while enjoying a ROE figure of 22%. Despite the global economy struggled against crisis and recession Garanti Factoring reached a balance sheet size of 1.14 billion TL with an appreciable growth of 52% comparing to the previous year end. "

In 2009, Garanti Factoring, being a major player in the market, added new values to the Turkish Factoring Sector. Mr Cengiz Ucbasaran was chosen as the first Turkish Chairman to the International Factors Group and the Company won the most popular Factoring Company Award of one of the prestigious finance magazine "Capital".