Leasing Agreement with Contribution Between Kuveyt Turk and Asko Group
Kuveyt Turk continues to support good projects across Turkey through its own leasing service. Having increased its support from TRY 2.7 billion at the end of 2019 to over TRY 5 billion in 2020 within the scope of leasing service, Kuveyt Turk has made a lease payment of $470 million dollars in 2020, according to the statement made by Kuveyt Turk. Increasing its support to over TRY 6.5 billion by the end of the first quarter of 2021, Kuveyt Turk has brought buyers and sellers together with the leasing agreement with a contribution involving a large number of companies.
Kuveyt Turk will provide financing support
Continuing to support the real economy in 2021, Kuveyt Turk has recently signed a leasing agreement with contribution with MST Satış Pazarlama, ELS Lift, Sanko Makine Pazarlama, and Asko İş ve Tarım Makinaları, which are under the umbrella of Asko Group, one of the leading industrial organizations in Turkey. Within the scope of the leasing agreement with contribution, Kuveyt Turk will provide financing support to the companies that are a party to the agreement in the financing of the products they manufacture and sell at favorable profit rates in line with their cash flows.
"We provide many advantages to businesses through leasing services"
Abdurrahman Delipoyraz, Executive Vice President in Charge of SME at Kuveyt Turk, stated that they attach great importance to supporting the country's economy by standing by the businesses. Delipoyraz said, "Through the leasing services we offer within this scope, we provide many advantages to businesses. By means of our in-house leasing service, businesses can determine flexible repayment schedules with longer terms that are suitable for their cash flows. The dividend portion of the lease paid can be recorded as an expense by the lessor for the periods they belong to. In addition, with the VAT advantage, the cost of the fund is more attractive than other financing method costs. Through the leasing agreement that we have made with the leading companies of our country, namely MST Satış Pazarlama, ELS Lift, Sanko Makine, Asko İş ve Tarım Makinaları under Asko Group, we are glad to provide another support to the real economy. We plan to continue our support for good projects throughout the year."
"We believe that the leasing agreement will positively influence the procurement and cash flow processes"
Özalp Kibar, Board Member at MST Satış Pazarama, ELS Lift, Sanko Makine, and Asko Makina among Asko Group companies, emphasized that they have long years of business experience and important investments in the construction and agricultural machinery sector in Turkey. Kibar shared his views, saying "We produce domestic construction and agricultural machines and offer them to our customers. Our group also carries out the Turkey distributorship of distinguished business and agricultural brand producers around the world. As Asko Group, we care that our customers have the opportunity to make payments for the machines they purchase from our companies in a way that is suitable for their cash flows. In this context, we believe that the leasing agreement with Kuveyt Turk Participation Bank having advantageous pricing and flexible payment options will make a positive contribution to the procurement and cash flow processes of our customers. We would like to thank Kuveyt Turk for their cooperation."