Credit Europe Leasing, one of the top ten leasing companies on the domestic market, plans to grab more than 4.5% of the market, from 3.7% at the end of last year.
"This year, we want to generate growth above the market level, namely by over 32%. We will no longer witness high growth rates, but we will try to improve our market share. This year, we target a market share of 4.5%-5%," stated Kerem Sekizyarali, chairman with Credit Europe Leasing.
The leasing firm of Credit Europe financial group in 2006 financed contracts worth 120 million euros, 160% above the level registered in 2005.
"Until 2005, we did not expand at fast pace as financial resources were the main problem. During that period, Turkey was undergoing an economic crisis and our majority shareholder could not sustain our growth. In 2005, our shareholder structure changed, with Finansbank Netherlands becoming our new shareholder," explains Sekizyarali. The shareholder structure changed as Finansbank Turkey and the Finans brand were taken over by National Bank of Greece last year.
The Finans network, still held by Fiba International Holding NV, made up of financial institutions in Romania, Russia, the Netherlands, Germany, Switzerland and Ukraine, started operating under the name of Credit Europe this year.
"2006 was the first year when we did not experience any financial problems as the group provided us with the necessary financing sources. Last year, we started tapping into the market. We are old, but still new," explains Sekizyarali.
Credit Europe Leasing ranks ninth among domestic leasing firms, after the merger of UniCredit Leasing and HVB Leasing, with a market share of 3.7%, after having ranked 17th in 2005, with a 2.26% market share.
The company is following the general trend of the market, of focusing real estate and equipment leasing instead of motor l
