Factoring

The funding deficit is growing in the Greek economy, as there was a sharper credit contraction in April, data from the Bank of Greece showed on Tuesday.

The pace of financing Greek households and enterprises stood at -1.9 percent last month, from -1 percent in March and -0.9 percent in February.

The European Bank for Reconstruction and Development (EBRD) has said it is supporting the expansion of international trade with a $50 million trade facility to Turkish lender Odeabank under the EBRD's Trade Facilitation Program (TFP) in a written statement on Jan. 18. 

Non-banking institutions, including financial leasing, factoring and financing companies, increased their consolidated profit by 16.7 percent to 1.35 billion Turkish Liras in the first nine months of the year compared to the same period of last year due to a sharp rise in demand from the real sector.