FKB: The Non-Banking Financial Sector's Transaction Volume Soars by 69%, Reaching 1.3 Trillion TL

The Financial Institutions Association (FKA) has announced the consolidated data of financial leasing, factoring, financing, asset management, and savings finance companies for the first nine months of 2024.

Ali Emre Ballı, President of the Financial Institutions Association, made evaluations regarding the contributions of the represented sectors to the economy, stating: “Our financial leasing, factoring, financing, asset management, and savings finance companies continue to add value to the national economy with the strong growth rates recorded in the first nine months of 2024. Our Association, which started its operations 11 years ago, has undertaken an important mission to lead the sustainable growth of the financial system and facilitate access to finance. Today, with 123 companies and 14,241 employees, we expect critical legal regulations that will open up our sector's path to be implemented as soon as possible by public authorities. Our goal as an association is to elevate the share of our sectors within the financial ecosystem to levels seen in developed economies. In this regard, we aim to take steps that will further advance the potential of our sectors by working in strong collaboration with public authorities. With the robust infrastructure of our 123 companies and the dedicated contributions of our employees, we are determined to increase the support we provide to the economy.”

The data from the first nine months indicates a significant increase in equity...

Ali Emre Ballı shared the following information regarding the financial performance of the sectors represented by the FKA in the first nine months of 2024: “I would like to emphasize that increases have been observed in the financial data of the sectors under FKA, just as in the first six months. Compared to the same period last year, the non-banking financial sector companies have seen a 69% increase in transaction volume, a 47% increase in total assets, and nearly a 73% increase in equity. Specifically, our Savings Finance sector experienced notable increases in equity, transaction volume, and total assets as of September 2024 compared to the same period last year. The sector’s equity increased by 314% to reach 21.5 billion TL, transaction volume grew by 285% to 208.7 billion TL, and total assets rose by 250% to 68.3 billion TL. The 69% increase in equity in our factoring sector also stood out. With this increase, the sector’s equity reached 50.6 billion TL in September 2024. Transaction volume, compared to the same period last year, increased by 50% to 832 billion TL. Our financing sector also recorded a 67% increase in transaction volume compared to the same period last year, reaching 192.5 billion TL. The sector’s total assets rose by 59%, reaching 177.6 billion TL. Our financial leasing sector also gained attention with its increase in equity, growing by 52% compared to the same period last year, surpassing approximately 55 billion TL. Additionally, the total assets of our asset management companies increased by 109% to 29.5 billion TL, while their equity was recorded at 12.9 billion TL, reflecting a 73% increase.”