Factoring sector, having started to take its niche in the Turkish financial system in the beginning of 1990s, and attained its first legal arrangement in 1994, has gained dynamism and shown a rapid growth during the last five years by establishment of new companies.

Factoring turnover registered as 100 million USD in 1990, despite the setbacks of severe economic crises in the meantime, has risen to 8.8 billion USD in 2004.

The portion of 2.0 billion USD, corresponding to 22.7 percent of the turnover, was generated by foreign transactions of which 98.9 percent was through export factoring, and 1.1 percent through import factoring transactions.