Huge merger in Interest-Free ''Finance''

Huge merger in Interest-Free ''Finance''

The share transfer in two of the most important players in the interest-free housing and car acquisition sector, which reached an annual volume of 25 billion TL, was taken place. Serdar Kolo, a 50 percent shareholder in both Finansevim and Vakifevim, took over the remaining shares in both companies and became the sole owner of both institutions.

The share transfer in two of the most important players in the interest-free housing and car acquisition sector, which reached an annual volume of 25 billion TL, was taken place. Serdar Kolo, a 50 percent shareholder in both Finansevim and Vakifevim, took over the remaining shares in both companies and became the sole owner of both institutions. Serdar Kolo, while merging the two brands under Kolo Holding roof, preferred to continue with Finansevim brand as a name. Finansevim Chairman of the Board Serdar Kolo said, “We have reached 400 employees and 50 branches in 2 years with the Finansevim brand. Vakifevim has done important work in the sector in 5 months. Our goal is now to be the biggest in the industry.''

Stating that they are the only company in the sector to announce profit in its second year, Kolo said, “Since 2017, we have been figuring out how we can contribute more to the economy with a legal and transparent management approach. With 100 branches to be opened after the merger, we will reach 160 branches in total and become the largest interest-free financing system serving in Turkey. With the merger, we will achieve the 200 percent growth that we targeted at the end of the year in the first half of the year. The fact that we have delivered more than 5 thousand deliveries although it has only been 2 years since our establishment reinforces the trust in us.'' Stating that they have received the intense interest of all Anatolia, especially Istanbul, Serdar Kolo said, “Our big cities such as Gebze, Antep, Konya, Ankara, Bursa, Izmir, Trabzon, and Adana follow Istanbul. In addition, we, as the interest-free finance system, have been a savior in the stagnation in the housing sector for the last 2 years. We continued to direct our citizens, who stayed away from the housing sector due to high interest rates, to the housing sector, and thus the dynamism in the housing sector, which is the backbone of the country's economy, continued thanks to us. The recent activity in the housing has also positively reflected on us.''

GREAT CONTRIBUTION TO THE COUNTRY ECONOMY

Stating that the regulations to be made by the state will make serious contributions to the recognition of the sector and increase its reputation before the citizens, Serdar Kolo said, “We think that the annual turnover of the sector will reach 50 billion with the completion of the regulation process of the state. Thus, as a sector, we will make an annual contribution of 50 billion to the national economy. When we fully integrate this system into the country's economy, especially with the cooperation that can be formed with our state institutions, it will become the new engine of the economy."