1. Development of Leasing in Turkey Started at 1985 with the special Leasing Law Only financial leasing was allowed and licensed Advantages: VAT subsidies for lessor reflected to lessee and tax depreciation for lessor In 2003 tax depreciation disappeared. In 2007 VAT subsidies was disappeared In 2011 VAT subsidies reestablished for machinery investments and construction machines. In 2013 operational leasing,sale and lease back and sublease was allowed

2. Leasing Volume(Bio usd)

3. Development of Leasing In 1988 the penetration rate of leasing was %0,8 increased to %8 in 2007 and decreased to %4 when VAT subsidies was disappeared. Leasing become much more expensive than credit financing because of %18 VAT was applied to lease purchases and lease rentals. The market is dominated by bank owned leasing companies(%95) and 28 leasing companies are active in the market.

4. Development of Leasing Assets leased in 2012% Share Road transport vehciles3 Ships2 Aircrafts6 Machinery, indutrial machines and other equipments 42 Construction machines32 Computers and business machines 3 Realestate8 Medical equipments4

5. Risk Managment in Leasing Credit risk company evaluation asset value Operational risk legal process purchase process service process Financial risk fx risk interest rate risk price risk

6. Risk Managment in Leasing Credit risk financial analysis monitoring and controlling credit risk credit buraue data and market information down payments and first and second hand market values of leased assets. Operational risk contract management and legal procedures and repossesion purchase process of import and domestic purchases special fleet and equipment management companies

7. Risk Managment in Leasing Financial risk natural hedge of fx risk forward contracts natural hedge of interest rate risk swap contracts for interest rate risk