Garanti Fleet Management

In 2009, the Company reached a fleet size of more than 5,000 vehicles with the 1,804 new additions during the year, and a balance sheet size of over US$ 90 million. The Company aims to increase its presence in the fleet management market by underscoring customer satisfaction and its service quality. Intending to reach its customers with more diversified products in 2010 with the expanded uses of operational leasing in Turkey, Garanti Fleet Management will initiate new product implementations that will address different groups of equipment. Pilot projects will also be put in place for renting luxury vehicles to higher income individuals, in addition to fleet rentals to companies.

The new leasing law pending for enactment at the Parliament is expected to broaden the uses of the leasing product and to bring it to a greater number of clients. Products such as operational leasing, sale-and-lease-back and software leasing that leasing companies will be allowed to market upon enforcement of the law will, in the long run, drive the leasing penetration of 2.5% in Turkey toward the European average of 15-20%. In this context, the leasing sector is anticipated to recapture an upward trend in 2010, contributed also by the new law, after a break taken during the crisis period from its growth performance over the last decade.

Operational leasing will be a totally different financial product for Turkey, which differs from financial leasing in that the leased equipment can be returned to the leasing company when the contract expires, and all maintenance, repairs, etc. in relation to the equipment are handled by the leasing company during the contract term. Companies using this product will enhance their productivities and contribute added value to national economy. Upon introduction of the new law, Garanti Leasing, in conjunction with Garanti Fleet Management, will be unchallenged in operational leasing segment in view of the present market conditions.

Vendor-based leasing and relations with vendors have always signified top priorities for Garanti Leasing. Strengthening this business line and increasing relations with vendors will result in a deeper insight into the customers, thus enabling the Company to offer the most appropriate product and therefore, add to the success.