...Aklease was founded in 1998 as a partnership between BNPP, Akbank and Dresdner Bank. Akbank took full control in 2005 and owns 99.9% of the outstanding shares, with the remaining balance owned by Akbank-controlled entities. Aklease is the third-largest leasing company comprising about 11.1% of sector assets. The reserves for impaired receivables have fallen steadily during 2013-2015 to 71.1% from 89.3%. Aklease's FC position is limited and was equal to 1.9% of equity (end-2015) reflecting the company's policy to maintain a flat FC position. A 10% decline of the Turkish lira would result in a TRY0.6m fall in net income (0.1% of end-2015 equity). Aklease uses the same internal rating system for customers as Akbank. About 95% of Aklease's customers are also customers of Akbank. About 2% of total funding comprises loans sourced from the European Investment Bank, channelled through Akbank....
