{"id":282,"date":"2025-12-20T19:32:49","date_gmt":"2025-12-20T16:32:49","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=282"},"modified":"2025-12-20T19:32:49","modified_gmt":"2025-12-20T16:32:49","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-glcvy-gelecek-varlik-yonetimi-2025-9-bilanco-analizi-%f0%9f%a7%bf","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/282","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #GLCVY | Gelecek Varl\u0131k Y\u00f6netimi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #GLCVY | Gelecek Varl\u0131k Y\u00f6netimi 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/lo4KZBm3SGU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h1>Bir Varl\u0131k Y\u00f6netim \u015eirketinin Bilan\u00e7osu: Rakamlar\u0131n Ard\u0131ndaki 4 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek<\/h1>\n<h3><b>Giri\u015f: Unutulmu\u015f Bor\u00e7lara Ne Olur?<\/b><\/h3>\n<p>Bankan\u0131z\u0131n art\u0131k pe\u015fine d\u00fc\u015fmedi\u011fi eski bir kredi kart\u0131 borcuna ne oldu\u011funu hi\u00e7 merak ettiniz mi? O borcun sihirli bir \u015fekilde ortadan kayboldu\u011funu d\u00fc\u015f\u00fcnebilirsiniz, ancak ger\u00e7ek \u00e7ok daha farkl\u0131. Bu bor\u00e7lar asl\u0131nda kaybolmuyor; finansal sistemin daha az bilinen bir k\u00f6\u015fesinde, <b>&#8220;Varl\u0131k Y\u00f6netim \u015eirketleri&#8221; (VY\u015e)<\/b> taraf\u0131ndan sat\u0131n al\u0131n\u0131yorlar. Bu \u015firketler, bankalar\u0131n ve di\u011fer finans kurumlar\u0131n\u0131n tahsil edemedi\u011fi alacaklar\u0131 devralarak ekonomide \u00f6nemli bir temizlik g\u00f6revi \u00fcstleniyor.<\/p>\n<p>Bu yaz\u0131da, halka a\u00e7\u0131k bir \u015firket olan Gelecek Varl\u0131k Y\u00f6netimi A.\u015e.&#8217;nin finansal raporlar\u0131n\u0131 bir dedektif gibi inceleyerek bu gizemli d\u00fcnyan\u0131n kap\u0131lar\u0131n\u0131 aralayaca\u011f\u0131z. Rakamlar\u0131n aras\u0131nda gizlenen ve bu \u015firketlerin i\u015fleyi\u015fini g\u00f6zler \u00f6n\u00fcne seren en \u015fa\u015f\u0131rt\u0131c\u0131 d\u00f6rt ger\u00e7e\u011fi sizin i\u00e7in derledik.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3><b>1. Temel \u0130\u015f Modeli: De\u011ferinin \u00c7ok Alt\u0131nda Bor\u00e7 Sat\u0131n Almak<\/b><\/h3>\n<p>Bir varl\u0131k y\u00f6netim \u015firketinin i\u015fleyi\u015findeki en \u00e7arp\u0131c\u0131 nokta, i\u015fe ba\u015flama \u015feklidir. Bu \u015firketler, bankalar\u0131n ve di\u011fer finansal kurumlar\u0131n milyarlarca liral\u0131k &#8220;tahsili gecikmi\u015f alacaklar\u0131n\u0131&#8221; (yani \u00f6denmeyen bor\u00e7lar\u0131n\u0131) sat\u0131n al\u0131rlar, ancak bunu nominal de\u011ferlerinin \u00e7ok alt\u0131nda bir fiyata yaparlar. Gelecek Varl\u0131k&#8217;\u0131n raporundaki rakamlar bu stratejiyi net bir \u015fekilde ortaya koyuyor:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>A\u00e7\u0131klama<\/td>\n<td>Tutar<\/td>\n<\/tr>\n<tr>\n<td><b>Sat\u0131n Al\u0131nan Toplam Alacak Tutar\u0131 (Anapara)<\/b><\/td>\n<td><b>45,8 Milyar TL<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Bu Alacaklar \u0130\u00e7in \u00d6denen Bedel<\/b><\/td>\n<td><b>9,6 Milyar TL<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Bu tabloyu basit bir dille analiz edelim: \u015eirket, bankalar\u0131n pe\u015findeki anapara de\u011feri toplam 45,8 milyar TL olan bor\u00e7lar\u0131 sat\u0131n almak i\u00e7in sadece 9,6 milyar TL \u00f6demi\u015ftir. Bu, nominal de\u011feri 1 TL olan bir borcun ortalama olarak yakla\u015f\u0131k <b>21 kuru\u015fa<\/b> sat\u0131n al\u0131nd\u0131\u011f\u0131 anlam\u0131na gelir. \u0130\u015fte bu <b>&#8220;iskontolu al\u0131m&#8221;<\/b> stratejisi, \u015firketin t\u00fcm k\u00e2rl\u0131l\u0131k modelinin temelini olu\u015fturmaktad\u0131r. Bu devasa iskonto, \u015firketin k\u00e2rl\u0131l\u0131k potansiyelinin anahtar\u0131n\u0131 olu\u015fturur ve sonraki b\u00f6l\u00fcmlerde g\u00f6rece\u011fimiz gibi, tahsilat ba\u015far\u0131ld\u0131\u011f\u0131nda ola\u011fan\u00fcst\u00fc k\u00e2rlara d\u00f6n\u00fc\u015f\u00fcr.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3><b>2. Operasyonun Devasa Boyutu: Milyarlarca Liral\u0131k Bir Portf\u00f6y<\/b><\/h3>\n<p>Bu i\u015f modelinin ne kadar b\u00fcy\u00fck bir \u00f6l\u00e7ekte uyguland\u0131\u011f\u0131n\u0131 g\u00f6rmek de bir o kadar \u015fa\u015f\u0131rt\u0131c\u0131. Gelecek Varl\u0131k&#8217;\u0131n bilan\u00e7osu, y\u00f6netilen portf\u00f6y\u00fcn devasa boyutunu ve \u015firketin ne kadar h\u0131zl\u0131 b\u00fcy\u00fcd\u00fc\u011f\u00fcn\u00fc g\u00f6zler \u00f6n\u00fcne seriyor. Bu rakamlar ayn\u0131 zamanda T\u00fcrkiye ekonomisindeki tahsili gecikmi\u015f alacaklar\u0131n hacmi hakk\u0131nda da bir fikir veriyor.<\/p>\n<p>\u0130\u015fte operasyonun \u00f6l\u00e7e\u011fini g\u00f6steren kilit rakamlar:<\/p>\n<ul>\n<li><b>\u015eirketin Toplam Varl\u0131klar\u0131:<\/b> <b>8,8 Milyar TL<\/b>&#8216;ye ula\u015fm\u0131\u015f durumda.<\/li>\n<li><b>Y\u00f6netilen Br\u00fct Alacak Portf\u00f6y\u00fc:<\/b> \u015eirketin tahsil etmeyi hedefledi\u011fi bor\u00e7lar\u0131n toplam anapara de\u011feri <b>11,5 Milyar TL<\/b>&#8216;ye ula\u015f\u0131yor.<\/li>\n<\/ul>\n<p>Bu rakamlar\u0131n en etkileyici yan\u0131, \u015firketin bu b\u00fcy\u00fckl\u00fc\u011fe ne kadar k\u0131sa s\u00fcrede ula\u015ft\u0131\u011f\u0131d\u0131r. Finansal rapor dipnotlar\u0131na g\u00f6re \u015firket 2018 y\u0131l\u0131nda kurulmu\u015f. Sadece birka\u00e7 y\u0131l i\u00e7inde milyarlarca liral\u0131k bir varl\u0131k b\u00fcy\u00fckl\u00fc\u011f\u00fcne ula\u015fmas\u0131, operasyonun ne kadar b\u00fcy\u00fck ve h\u0131zl\u0131 \u00f6l\u00e7eklendi\u011fini g\u00f6steriyor.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3><b>3. Y\u00fcksek K\u00e2rl\u0131l\u0131k: Tahsilat Ba\u015far\u0131s\u0131 K\u00e2ra Nas\u0131l D\u00f6n\u00fc\u015f\u00fcyor?<\/b><\/h3>\n<p>De\u011ferinin \u00e7ok alt\u0131nda bor\u00e7 al\u0131p, devasa bir portf\u00f6y\u00fc y\u00f6netmek k\u00e2rl\u0131 bir i\u015f mi? K\u00e2r veya Zarar Tablosu&#8217;na bakt\u0131\u011f\u0131m\u0131zda cevap net bir &#8220;evet&#8221; oluyor. \u0130skontolu al\u0131m modeli, ba\u015far\u0131l\u0131 bir tahsilat operasyonuyla birle\u015fti\u011finde olduk\u00e7a y\u00fcksek bir k\u00e2rl\u0131l\u0131\u011fa d\u00f6n\u00fc\u015febiliyor.<\/p>\n<ul>\n<li><b>9 Ayl\u0131k Net K\u00e2r:<\/b> \u015eirket, 2025&#8217;in ilk dokuz ay\u0131nda <b>1,13 Milyar TL<\/b> net k\u00e2r elde etmi\u015ftir.<\/li>\n<\/ul>\n<p>Bu k\u00e2r\u0131n kayna\u011f\u0131n\u0131 anlamak i\u00e7in gelir tablosundaki en b\u00fcy\u00fck kaleme bakmak gerekiyor: <b>5,7 Milyar TL<\/b> ile &#8220;Kredilerden Al\u0131nan Faizler&#8221;. Ancak bu kalem, bildi\u011fimiz geleneksel faiz gelirinden farkl\u0131d\u0131r. Finansal raporun dipnotlar\u0131nda a\u00e7\u0131kland\u0131\u011f\u0131 \u00fczere, bu gelir asl\u0131nda \u015firketin tahsilat tahminleri ile sat\u0131n ald\u0131\u011f\u0131 alacaklar\u0131n kay\u0131tl\u0131 de\u011feri aras\u0131ndaki pozitif fark\u0131 temsil etmektedir. Yani, bu devasa gelir kalemi b\u00fcy\u00fck \u00f6l\u00e7\u00fcde tahsilat ba\u015far\u0131s\u0131ndan kaynaklanan k\u00e2r\u0131n ta kendisidir.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3><b>4. Bor\u00e7la Beslenen Agresif B\u00fcy\u00fcme<\/b><\/h3>\n<p>\u015eirketin bu kadar h\u0131zl\u0131 b\u00fcy\u00fcmesinin arkas\u0131ndaki finansman stratejisi, bilan\u00e7onun en ilgin\u00e7 dinamiklerinden birini ortaya koyuyor. \u015eirket, ba\u015fkalar\u0131n\u0131n bor\u00e7lar\u0131n\u0131 sat\u0131n almak i\u00e7in kendisi de bor\u00e7lan\u0131yor. Bu durum, bilan\u00e7odaki iki \u00f6nemli kalemin dokuz ayl\u0131k de\u011fi\u015fiminde net bir \u015fekilde g\u00f6r\u00fcl\u00fcyor:<\/p>\n<ul>\n<li><b>Varl\u0131k Art\u0131\u015f\u0131:<\/b> \u015eirketin toplam varl\u0131klar\u0131, 2024 sonunda 6 Milyar TL iken, dokuz ay i\u00e7inde <b>%46&#8217;dan fazla artarak 8,8 Milyar TL<\/b>&#8216;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>Bor\u00e7 Art\u0131\u015f\u0131:<\/b> Ayn\u0131 d\u00f6nemde, \u015firketin &#8220;Al\u0131nan Krediler&#8221; kalemi <b>iki kattan fazla artarak 1,7 Milyar TL&#8217;den 3,9 Milyar TL<\/b>&#8216;ye \u00e7\u0131km\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p>Bu veriler, \u015firketin b\u00fcy\u00fcme motorunun nas\u0131l \u00e7al\u0131\u015ft\u0131\u011f\u0131n\u0131 g\u00f6steriyor: Bankalardan ve finans kurulu\u015flar\u0131ndan yeni krediler alarak daha b\u00fcy\u00fck bor\u00e7 portf\u00f6yleri sat\u0131n al\u0131yor. Bu sat\u0131n almalar \u015firketin varl\u0131klar\u0131n\u0131 ve potansiyel gelirlerini art\u0131r\u0131yor, bu da daha fazla bor\u00e7lanma kapasitesi yaratarak agresif b\u00fcy\u00fcmeyi besleyen bir d\u00f6ng\u00fc olu\u015fturuyor.<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h3><b>Sonu\u00e7: Finansal Geri D\u00f6n\u00fc\u015f\u00fcm\u00fcn Gelece\u011fi<\/b><\/h3>\n<p>Gelecek Varl\u0131k&#8217;\u0131n finansal tablolar\u0131, ilk bak\u0131\u015fta karma\u015f\u0131k g\u00f6r\u00fcnen bir sekt\u00f6r\u00fcn ard\u0131ndaki basit ama g\u00fc\u00e7l\u00fc i\u015f modelini ortaya koyuyor: borcu ucuza al (iskontolu al\u0131m), operasyonlar\u0131n\u0131 devasa bir \u00f6l\u00e7ekte y\u00fcr\u00fct (devasa portf\u00f6y), tahsilatla y\u00fcksek k\u00e2r elde et (y\u00fcksek k\u00e2rl\u0131l\u0131k) ve bu d\u00f6ng\u00fcy\u00fc finanse etmek i\u00e7in bor\u00e7lanarak b\u00fcy\u00fc (bor\u00e7la b\u00fcy\u00fcme).<\/p>\n<p>Bu \u015firketler, finansal sistemdeki &#8220;bat\u0131k&#8221; olarak g\u00f6r\u00fclen varl\u0131klar\u0131 yeniden ekonomiye kazand\u0131rarak bir nevi <b>&#8220;finansal geri d\u00f6n\u00fc\u015f\u00fcm&#8221;<\/b> i\u015flevi g\u00f6r\u00fcyorlar. Unutulmu\u015f bor\u00e7lar\u0131n ard\u0131ndaki bu devasa ekonomiyi \u00f6\u011frendikten sonra, finansal sisteme bak\u0131\u015f\u0131n\u0131z de\u011fi\u015fti mi?<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">Gelecek Varl\u0131k Y\u00f6netimi A.\u015e. 30 Eyl\u00fcl 2025 Finansal Durum Raporu<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing dok\u00fcman\u0131, Gelecek Varl\u0131k Y\u00f6netimi A.\u015e.&#8217;nin 30 Eyl\u00fcl 2025 tarihinde sona eren ara d\u00f6neme ait konsolide olmayan finansal tablolar\u0131n\u0131 analiz ederek \u015firketin mali durumu, performans\u0131 ve temel faaliyetlerine ili\u015fkin temel bulgular\u0131 \u00f6zetlemektedir. Rapor, \u015firketin finansal yap\u0131s\u0131nda ve operasyonel sonu\u00e7lar\u0131nda belirgin bir b\u00fcy\u00fcme e\u011filimi oldu\u011funu ortaya koymaktad\u0131r.<\/p>\n<p><b>Temel Finansal G\u00f6stergeler:<\/b><\/p>\n<ul>\n<li><b>Varl\u0131k B\u00fcy\u00fcmesi:<\/b> \u015eirketin toplam varl\u0131klar\u0131, 31 Aral\u0131k 2024&#8217;teki 6,04 milyar TL&#8217;den %46,5&#8217;lik bir art\u0131\u015fla 30 Eyl\u00fcl 2025 itibar\u0131yla 8,86 milyar TL&#8217;ye y\u00fckselmi\u015ftir. Bu b\u00fcy\u00fcmenin ana kayna\u011f\u0131, itfa edilmi\u015f maliyeti ile \u00f6l\u00e7\u00fclen finansal varl\u0131klardaki (temelde sat\u0131n al\u0131nan kredi portf\u00f6yleri) art\u0131\u015ft\u0131r.<\/li>\n<li><b>Karl\u0131l\u0131k:<\/b> 2025&#8217;in ilk dokuz ay\u0131nda elde edilen d\u00f6nem net k\u00e2r\u0131, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla %32,2 artarak 857,5 milyon TL&#8217;den 1,13 milyar TL&#8217;ye \u00e7\u0131km\u0131\u015ft\u0131r. Net faiz geliri de %90&#8217;a yak\u0131n bir art\u0131\u015fla 2,65 milyar TL&#8217;den 5,02 milyar TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>\u00d6zkaynaklar:<\/b> \u015eirketin \u00f6zkaynaklar\u0131, 2024 y\u0131l sonundaki 2,70 milyar TL&#8217;den 3,48 milyar TL&#8217;ye \u00e7\u0131karak %29&#8217;luk bir art\u0131\u015f kaydetmi\u015ftir. Bu art\u0131\u015f, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde d\u00f6nem k\u00e2r\u0131n\u0131n birikimli etkisinden kaynaklanmaktad\u0131r.<\/li>\n<li><b>Bor\u00e7lanma:<\/b> \u015eirketin b\u00fcy\u00fcme stratejisini finanse etmek amac\u0131yla kulland\u0131\u011f\u0131 &#8220;Al\u0131nan Krediler&#8221; kalemi, 1,72 milyar TL&#8217;den 3,90 milyar TL&#8217;ye \u00e7\u0131karak iki kat\u0131ndan fazla artm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p><b>Operasyonel ve Yap\u0131sal Bulgular:<\/b><\/p>\n<ul>\n<li><b>Ana Faaliyet Alan\u0131:<\/b> \u015eirketin temel faaliyeti, bankalar ve di\u011fer finansal kurulu\u015flardan tahsili gecikmi\u015f alacak portf\u00f6ylerini sat\u0131n almak ve bu alacaklar\u0131 tahsil etmektir. Raporlama tarihi itibar\u0131yla sat\u0131n al\u0131nm\u0131\u015f toplam kredi portf\u00f6y\u00fcn\u00fcn anapara tutar\u0131 45,8 milyar TL&#8217;ye ula\u015fm\u0131\u015ft\u0131r.<\/li>\n<li><b>Ortakl\u0131k Yap\u0131s\u0131:<\/b> \u015eirketin ana ve nitelikli pay sahibi %69,90&#8217;l\u0131k oranla Fiba Holding A.\u015e.&#8217;dir. Di\u011fer \u00f6nemli ortaklar aras\u0131nda Murat \u00d6zye\u011fin ve Ay\u015fe Can \u00d6zye\u011fin Oktay bulunmaktad\u0131r. \u015eirket paylar\u0131 Borsa \u0130stanbul&#8217;da i\u015flem g\u00f6rmektedir.<\/li>\n<li><b>Risk Profili:<\/b> \u015eirket, faaliyetleri gere\u011fi kredi riskine do\u011fal olarak maruz kalmaktad\u0131r. Finansal tablolar, \u015firketin ayn\u0131 zamanda \u00f6nemli bir kur riski ta\u015f\u0131d\u0131\u011f\u0131n\u0131 g\u00f6stermektedir; 30 Eyl\u00fcl 2025 itibar\u0131yla (1,03) milyar TL&#8217;lik net yabanc\u0131 para pozisyon a\u00e7\u0131\u011f\u0131 bulunmaktad\u0131r. Likidite ve faiz oran\u0131 riskleri de aktif olarak y\u00f6netilmektedir.<\/li>\n<\/ul>\n<h2>1. \u015eirket Profili ve Faaliyet Alan\u0131<\/h2>\n<h3>1.1. Genel Bilgiler<\/h3>\n<p>Gelecek Varl\u0131k Y\u00f6netimi A.\u015e., Bankac\u0131l\u0131k D\u00fczenleme ve Denetleme Kurumu&#8217;nun (BDDK) 26 Temmuz 2018 tarihli izniyle 3 A\u011fustos 2018 tarihinde kurulmu\u015ftur. \u015eirket, 7 Ekim 2021 tarihinde Sermaye Piyasas\u0131 Kurulu&#8217;ndan (SPK) halka arz onay\u0131 alm\u0131\u015f ve paylar\u0131 21 Ekim 2021&#8217;den itibaren Borsa \u0130stanbul&#8217;da i\u015flem g\u00f6rmeye ba\u015flam\u0131\u015ft\u0131r.<\/p>\n<h3>1.2. Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>\u015eirketin 30 Eyl\u00fcl 2025 itibar\u0131yla toplam \u00f6denmi\u015f sermayesi 139.700.000 TL&#8217;dir. Halka arz ile 13.200 Bin TL tutar\u0131nda sermaye art\u0131\u015f\u0131 ger\u00e7ekle\u015ftirilmi\u015ftir. Nitelikli pay sahipleri ve ortakl\u0131k yap\u0131s\u0131 a\u015fa\u011f\u0131daki gibidir:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad Soyad \/ Ticaret Unvan\u0131<\/td>\n<td>Pay Tutar\u0131 (Bin TL)<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<\/tr>\n<tr>\n<td>Fiba Holding A.\u015e.<\/td>\n<td>97.653<\/td>\n<td>69,90<\/td>\n<\/tr>\n<tr>\n<td>Murat \u00d6zye\u011fin<\/td>\n<td>7.822<\/td>\n<td>5,60<\/td>\n<\/tr>\n<tr>\n<td>Ay\u015fe Can \u00d6zye\u011fin Oktay<\/td>\n<td>7.822<\/td>\n<td>5,60<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k K\u0131s\u0131m<\/td>\n<td>26.400<\/td>\n<td>18,90<\/td>\n<\/tr>\n<tr>\n<td>Fiba Faktoring A.\u015e.<\/td>\n<td>2<\/td>\n<td>&lt;0<\/td>\n<\/tr>\n<tr>\n<td>Fiba Kapital Holding A.\u015e.<\/td>\n<td>1<\/td>\n<td>&lt;0<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>139.700<\/b><\/td>\n<td><b>100,00<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>1.3. Y\u00f6netim Kurulu<\/h3>\n<p>\u015eirketin y\u00f6netim kurulu, finans sekt\u00f6r\u00fcnde deneyimli isimlerden olu\u015fmaktad\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad\u0131 Soyad\u0131<\/td>\n<td>G\u00f6revi<\/td>\n<td>G\u00f6reve Atanma Tarihi<\/td>\n<td>\u00d6\u011frenim Durumu<\/td>\n<\/tr>\n<tr>\n<td>Murat \u00d6zye\u011fin<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/td>\n<td>12 Nisan 2023<\/td>\n<td>Y\u00fcksek Lisans<\/td>\n<\/tr>\n<tr>\n<td>Hasan Tengiz<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan Vekili<\/td>\n<td>12 Nisan 2023<\/td>\n<td>Lisans<\/td>\n<\/tr>\n<tr>\n<td>Zehra Sezin \u00dcnl\u00fcdo\u011fan<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi &#8211; Genel M\u00fcd\u00fcr<\/td>\n<td>12 Nisan 2023<\/td>\n<td>Y\u00fcksek Lisans<\/td>\n<\/tr>\n<tr>\n<td>Mehmet G\u00fcle\u015fci<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>12 Nisan 2023<\/td>\n<td>Y\u00fcksek Lisans<\/td>\n<\/tr>\n<tr>\n<td>Demet \u00d6zdemir<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>12 Nisan 2023<\/td>\n<td>Y\u00fcksek Lisans<\/td>\n<\/tr>\n<tr>\n<td>Orkun O\u011fuz<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>12 Nisan 2023<\/td>\n<td>Y\u00fcksek Lisans<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>1.4. Faaliyet Alanlar\u0131<\/h3>\n<p>\u015eirketin ana s\u00f6zle\u015fmesinde belirtilen temel faaliyet alanlar\u0131 \u015funlard\u0131r:<\/p>\n<ul>\n<li>Bankalar, TMSF, \u00f6zel finans kurumlar\u0131 ve di\u011fer mali kurulu\u015flar\u0131n alacaklar\u0131n\u0131 ve di\u011fer varl\u0131klar\u0131n\u0131 sat\u0131n almak ve satmak.<\/li>\n<li>Sat\u0131n al\u0131nan alacaklar\u0131 bor\u00e7lusundan tahsil etmek, varl\u0131klar\u0131 nakde \u00e7evirmek veya yeniden yap\u0131land\u0131rmak.<\/li>\n<li>Alacak tahsili amac\u0131yla edinilen gayrimenkul veya di\u011fer varl\u0131klar\u0131 i\u015fletmek, kiralamak ve bunlara yat\u0131r\u0131m yapmak.<\/li>\n<li>Alacak tahsili i\u00e7in bor\u00e7lulara ilave finansman sa\u011flamak.<\/li>\n<li>Alacaklar\u0131n yeniden yap\u0131land\u0131r\u0131lmas\u0131 veya sat\u0131\u015f\u0131 konular\u0131nda dan\u0131\u015fmanl\u0131k ve arac\u0131l\u0131k hizmeti vermek.<\/li>\n<li>Sermaye Piyasas\u0131 Kurulu&#8217;ndan izin alarak menkul k\u0131ymet ihra\u00e7 etmek.<\/li>\n<li>\u015eirketlere kurumsal ve finansal yeniden yap\u0131land\u0131rma alanlar\u0131nda dan\u0131\u015fmanl\u0131k hizmeti sunmak.<\/li>\n<\/ul>\n<h2>2. Finansal Performans Analizi<\/h2>\n<h3>2.1. Bilan\u00e7o \u00d6zeti (Finansal Durum Tablosu)<\/h3>\n<p>\u015eirketin finansal durumu, bir \u00f6nceki y\u0131l sonuna g\u00f6re \u00f6nemli bir b\u00fcy\u00fcme g\u00f6stermi\u015ftir. Varl\u0131klardaki art\u0131\u015f, temel olarak yeni kredi portf\u00f6ylerinin sat\u0131n al\u0131nmas\u0131yla finanse edilen bor\u00e7lanmadaki art\u0131\u015fla paralellik g\u00f6stermektedir.<\/p>\n<p><i>(Tutarlar Bin TL olarak ifade edilmi\u015ftir.)<\/i><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Bilan\u00e7o Kalemleri<\/td>\n<td>30.09.2025<\/td>\n<td>31.12.2024<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td><b>VARLIKLAR<\/b><\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Nakit ve Nakit Benzerleri<\/td>\n<td>94.978<\/td>\n<td>77.111<\/td>\n<td>+23,2%<\/td>\n<\/tr>\n<tr>\n<td>\u0130tfa Edilmi\u015f Maliyeti ile \u00d6l\u00e7\u00fclen Finansal Varl\u0131klar (Net Krediler)<\/td>\n<td>7.795.573<\/td>\n<td>5.087.893<\/td>\n<td>+53,2%<\/td>\n<\/tr>\n<tr>\n<td>Sat\u0131\u015f Ama\u00e7l\u0131 Elde Tutulan Duran Varl\u0131klar<\/td>\n<td>385.626<\/td>\n<td>376.782<\/td>\n<td>+2,3%<\/td>\n<\/tr>\n<tr>\n<td>Maddi Duran Varl\u0131klar (Net)<\/td>\n<td>131.081<\/td>\n<td>109.361<\/td>\n<td>+19,9%<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM VARLIKLAR<\/b><\/td>\n<td><b>8.855.244<\/b><\/td>\n<td><b>6.042.565<\/b><\/td>\n<td><b>+46,5%<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Y\u00dcK\u00dcML\u00dcL\u00dcKLER VE \u00d6ZKAYNAKLAR<\/b><\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<td>&nbsp;<\/td>\n<\/tr>\n<tr>\n<td>Al\u0131nan Krediler<\/td>\n<td>3.901.612<\/td>\n<td>1.717.098<\/td>\n<td>+127,2%<\/td>\n<\/tr>\n<tr>\n<td>Ertelenmi\u015f Vergi Borcu<\/td>\n<td>1.006.329<\/td>\n<td>496.147<\/td>\n<td>+102,8%<\/td>\n<\/tr>\n<tr>\n<td>Kar\u015f\u0131l\u0131klar<\/td>\n<td>134.642<\/td>\n<td>113.093<\/td>\n<td>+19,1%<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6ZKAYNAKLAR<\/b><\/td>\n<td><b>3.479.777<\/b><\/td>\n<td><b>2.695.979<\/b><\/td>\n<td><b>+29,1%<\/b><\/td>\n<\/tr>\n<tr>\n<td>\u00d6denmi\u015f Sermaye<\/td>\n<td>139.700<\/td>\n<td>139.700<\/td>\n<td>0,0%<\/td>\n<\/tr>\n<tr>\n<td>K\u00e2r Yedekleri<\/td>\n<td>1.741.749<\/td>\n<td>941.343<\/td>\n<td>+85,0%<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nem Net K\u00e2r\u0131 veya Zarar\u0131<\/td>\n<td>1.133.734<\/td>\n<td>1.182.027<\/td>\n<td>-4,1%\u00b9<\/td>\n<\/tr>\n<tr>\n<td><b>TOPLAM Y\u00dcK\u00dcML\u00dcL\u00dcKLER<\/b><\/td>\n<td><b>8.855.244<\/b><\/td>\n<td><b>6.042.565<\/b><\/td>\n<td><b>+46,5%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u00b9 30.09.2025 rakam\u0131 9 ayl\u0131k, 31.12.2024 rakam\u0131 ise 12 ayl\u0131k k\u00e2r\u0131 temsil etmektedir.<\/p>\n<h3>2.2. Kar veya Zarar Tablosu \u00d6zeti<\/h3>\n<p>\u015eirketin 2025 y\u0131l\u0131n\u0131n ilk dokuz ayl\u0131k performans\u0131, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re g\u00fc\u00e7l\u00fc bir art\u0131\u015f sergilemi\u015ftir. Net faiz geliri ve net d\u00f6nem k\u00e2r\u0131ndaki art\u0131\u015flar dikkat \u00e7ekicidir.<\/p>\n<p><i>(Tutarlar Bin TL olarak ifade edilmi\u015ftir.)<\/i><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kar veya Zarar Kalemleri<\/td>\n<td>01.01-30.09.2025 (9 Ay)<\/td>\n<td>01.01-30.09.2024 (9 Ay)<\/td>\n<td>De\u011fi\u015fim (%)<\/td>\n<\/tr>\n<tr>\n<td>Faiz Gelirleri<\/td>\n<td>5.770.016<\/td>\n<td>2.995.671<\/td>\n<td>+92,6%<\/td>\n<\/tr>\n<tr>\n<td>Faiz Giderleri (-)<\/td>\n<td>(746.314)<\/td>\n<td>(348.940)<\/td>\n<td>+113,9%<\/td>\n<\/tr>\n<tr>\n<td><b>Net Faiz Geliri \/ Gideri<\/b><\/td>\n<td><b>5.023.702<\/b><\/td>\n<td><b>2.646.731<\/b><\/td>\n<td><b>+89,8%<\/b><\/td>\n<\/tr>\n<tr>\n<td>Beklenen Zarar Kar\u015f\u0131l\u0131klar\u0131 Giderleri (-)<\/td>\n<td>(1.436.318)<\/td>\n<td>(175.051)<\/td>\n<td>+720,5%<\/td>\n<\/tr>\n<tr>\n<td>Personel Giderleri (-)<\/td>\n<td>(783.288)<\/td>\n<td>(525.899)<\/td>\n<td>+48,9%<\/td>\n<\/tr>\n<tr>\n<td>Di\u011fer Faaliyet Giderleri (-)<\/td>\n<td>(803.735)<\/td>\n<td>(589.778)<\/td>\n<td>+36,3%<\/td>\n<\/tr>\n<tr>\n<td><b>Net Faaliyet K\u00e2r\u0131 \/ Zarar\u0131<\/b><\/td>\n<td><b>1.643.889<\/b><\/td>\n<td><b>1.220.771<\/b><\/td>\n<td><b>+34,7%<\/b><\/td>\n<\/tr>\n<tr>\n<td>Vergi Kar\u015f\u0131l\u0131\u011f\u0131 (\u00b1)<\/td>\n<td>(510.155)<\/td>\n<td>(363.277)<\/td>\n<td>+40,4%<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Net K\u00e2r\u0131 \/ Zarar\u0131<\/b><\/td>\n<td><b>1.133.734<\/b><\/td>\n<td><b>857.494<\/b><\/td>\n<td><b>+32,2%<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Hisse Ba\u015f\u0131na K\u00e2r (TL)<\/b><\/td>\n<td><b>8,1155<\/b><\/td>\n<td><b>6,1381<\/b><\/td>\n<td><b>+32,2%<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>2.3. Nakit Ak\u0131\u015f Tablosu \u00d6zeti<\/h3>\n<p>Nakit ak\u0131\u015f tablosu, \u015firketin operasyonlar\u0131n\u0131n negatif nakit ak\u0131\u015f\u0131 \u00fcretti\u011fini, bu a\u00e7\u0131\u011f\u0131n ise b\u00fcy\u00fck \u00f6l\u00e7\u00fcde finansman faaliyetlerinden (yeni kredi kullan\u0131m\u0131) sa\u011flanan nakit ile kar\u015f\u0131land\u0131\u011f\u0131n\u0131 g\u00f6stermektedir. Bu durum, \u015firketin b\u00fcy\u00fcme odakl\u0131 stratejisiyle tutarl\u0131d\u0131r.<\/p>\n<p><i>(Tutarlar Bin TL olarak ifade edilmi\u015ftir.)<\/i><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Nakit Ak\u0131\u015f Kalemleri<\/td>\n<td>01.01-30.09.2025<\/td>\n<td>01.01-30.09.2024<\/td>\n<\/tr>\n<tr>\n<td>\u015eirket Faaliyetlerinden Kaynaklanan Net Nakit Ak\u0131\u015f\u0131<\/td>\n<td>(1.215.844)<\/td>\n<td>(1.536.218)<\/td>\n<\/tr>\n<tr>\n<td>Yat\u0131r\u0131m Faaliyetlerinden Kaynaklanan Net Nakit Ak\u0131\u015f\u0131<\/td>\n<td>(22.484)<\/td>\n<td>(13.487)<\/td>\n<\/tr>\n<tr>\n<td>Finansman Faaliyetlerinden Sa\u011flanan Net Nakit<\/td>\n<td>1.256.432<\/td>\n<td>1.426.972<\/td>\n<\/tr>\n<tr>\n<td><i>Temett\u00fc \u00d6demeleri<\/i><\/td>\n<td><i>(350.000)<\/i><\/td>\n<td><i>(128.268)<\/i><\/td>\n<\/tr>\n<tr>\n<td><b>Nakit ve Nakde E\u015fde\u011fer Varl\u0131klardaki Net Art\u0131\u015f<\/b><\/td>\n<td><b>18.104<\/b><\/td>\n<td><b>(122.733)<\/b><\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nem Ba\u015f\u0131ndaki Nakit ve Nakde E\u015fde\u011fer Varl\u0131klar<\/td>\n<td>78.202<\/td>\n<td>201.635<\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Sonundaki Nakit ve Nakde E\u015fde\u011fer Varl\u0131klar<\/b><\/td>\n<td><b>96.306<\/b><\/td>\n<td><b>78.902<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>3. Muhasebe Politikalar\u0131 ve Raporlama Esaslar\u0131<\/h2>\n<ul>\n<li><b>Raporlama Standartlar\u0131:<\/b> Finansal tablolar, Kamu G\u00f6zetimi Muhasebe ve Denetim Standartlar\u0131 Kurumu (KGK) taraf\u0131ndan yay\u0131mlanan T\u00fcrkiye Muhasebe Standartlar\u0131 (TMS) ve T\u00fcrkiye Finansal Raporlama Standartlar\u0131&#8217;na (TFRS) uygun olarak haz\u0131rlanm\u0131\u015ft\u0131r.<\/li>\n<li><b>Enflasyon Muhasebesi:<\/b> BDDK&#8217;n\u0131n 5 Aral\u0131k 2024 tarihli karar\u0131 uyar\u0131nca, varl\u0131k y\u00f6netim \u015firketlerinin mali tablolar\u0131 2025 y\u0131l\u0131nda enflasyon d\u00fczeltmesine tabi tutulmayacakt\u0131r. Bu nedenle 30 Eyl\u00fcl 2025 tarihli tablolarda TMS 29 (Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama) uygulanmam\u0131\u015ft\u0131r.<\/li>\n<li><b>Finansal Varl\u0131klar\u0131n Muhasebele\u015ftirilmesi:<\/b> \u015eirketin ana finansal varl\u0131\u011f\u0131 olan ve &#8220;\u0130tfa Edilmi\u015f Maliyetiyle \u00d6l\u00e7\u00fclen Finansal Varl\u0131klar&#8221; alt\u0131nda izlenen kredi portf\u00f6yleri, &#8220;sat\u0131n al\u0131nd\u0131\u011f\u0131nda ya da olu\u015fturuldu\u011funda kredi de\u011fer d\u00fc\u015f\u00fckl\u00fc\u011f\u00fc bulunan finansal varl\u0131klar&#8221; olarak s\u0131n\u0131fland\u0131r\u0131lmaktad\u0131r. Bu varl\u0131klar i\u00e7in de\u011ferleme, tahsilat projeksiyonlar\u0131n\u0131n net bug\u00fcnk\u00fc de\u011ferinin hesaplanmas\u0131yla yap\u0131l\u0131r.<\/li>\n<li><b>Faiz Gelirleri:<\/b> Sat\u0131n al\u0131nan kredi portf\u00f6ylerinin hesaplanan tahsilat projeksiyonlar\u0131n\u0131n net bug\u00fcnk\u00fc de\u011ferleri ile kay\u0131tl\u0131 defter de\u011ferleri aras\u0131ndaki pozitif farklar, &#8220;Kredilerden al\u0131nan faizler&#8221; kalemi alt\u0131nda gelir olarak kaydedilmektedir.<\/li>\n<\/ul>\n<h2>4. Risk Y\u00f6netimi<\/h2>\n<h3>4.1. Kredi Riski<\/h3>\n<p>\u015eirketin temel faaliyet alan\u0131, kredi riskine maruz kalm\u0131\u015f alacaklar\u0131 y\u00f6netmek oldu\u011fu i\u00e7in kredi riski y\u00f6netimi operasyonlar\u0131n\u0131n merkezinde yer almaktad\u0131r.<\/p>\n<ul>\n<li><b>Portf\u00f6y B\u00fcy\u00fckl\u00fc\u011f\u00fc:<\/b> \u015eirket, T\u00fcrkiye&#8217;deki bankalardan toplamda <b>45.793.755 Bin TL<\/b> anapara tutar\u0131nda nakit alacaklardan olu\u015fan kredi portf\u00f6yleri sat\u0131n alm\u0131\u015ft\u0131r.<\/li>\n<li><b>Net Kay\u0131tl\u0131 De\u011fer:<\/b> Bu portf\u00f6ylerin 30 Eyl\u00fcl 2025 tarihi itibar\u0131yla net kay\u0131tl\u0131 de\u011feri <b>7.795.573 Bin TL<\/b>&#8216;dir.<\/li>\n<\/ul>\n<h3>4.2. Kur Riski<\/h3>\n<p>\u015eirket, yabanc\u0131 para cinsinden bor\u00e7lanmalar\u0131 ve varl\u0131klar\u0131 nedeniyle kur riskine maruz kalmaktad\u0131r.<\/p>\n<ul>\n<li><b>Net Pozisyon:<\/b> 30 Eyl\u00fcl 2025 itibar\u0131yla \u015firketin <b>(1.027.720) Bin TL<\/b> tutar\u0131nda net yabanc\u0131 para pozisyon a\u00e7\u0131\u011f\u0131 bulunmaktad\u0131r (31 Aral\u0131k 2024: (383.362) Bin TL a\u00e7\u0131k). Bu a\u00e7\u0131k, b\u00fcy\u00fck \u00f6l\u00e7\u00fcde Avro cinsinden y\u00fck\u00fcml\u00fcl\u00fcklerden kaynaklanmaktad\u0131r.<\/li>\n<li><b>Pozisyon Da\u011f\u0131l\u0131m\u0131:<\/b>\n<ul>\n<li>Avro Net Pozisyonu: (757.253) Bin TL<\/li>\n<li>ABD Dolar\u0131 Net Pozisyonu: (270.467) Bin TL<\/li>\n<\/ul>\n<\/li>\n<li><b>Duyarl\u0131l\u0131k Analizi:<\/b> TL&#8217;nin di\u011fer para birimleri kar\u015f\u0131s\u0131nda %10 de\u011fer kaybetmesi durumunda, \u015firketin \u00f6zkaynak ve net k\u00e2r\u0131nda yakla\u015f\u0131k <b>102.772 Bin TL<\/b> tutar\u0131nda bir azal\u0131\u015f meydana gelece\u011fi \u00f6ng\u00f6r\u00fclmektedir.<\/li>\n<\/ul>\n<h3>4.3. Faiz Oran\u0131 Riski<\/h3>\n<p>\u015eirket, faiz oranlar\u0131ndaki de\u011fi\u015fimlerden kaynaklanan riski y\u00f6netmektedir. Faiz oranlar\u0131na duyarl\u0131 varl\u0131k ve y\u00fck\u00fcml\u00fcl\u00fckler i\u00e7in ortalama faiz oranlar\u0131 a\u015fa\u011f\u0131daki gibidir:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ortalama Faiz Oranlar\u0131 (%) &#8211; 30.09.2025<\/td>\n<td>TL<\/td>\n<td>ABD Dolar\u0131<\/td>\n<td>Avro<\/td>\n<\/tr>\n<tr>\n<td>Bankalar (Vadeli Mevduatlar)<\/td>\n<td>41,28<\/td>\n<td>&#8211;<\/td>\n<td>&#8211;<\/td>\n<\/tr>\n<tr>\n<td>Al\u0131nan Krediler<\/td>\n<td>41,36<\/td>\n<td>7,96<\/td>\n<td>6,76<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>4.4. Likidite Riski<\/h3>\n<p>\u015eirketin finansal y\u00fck\u00fcml\u00fcl\u00fcklerinin b\u00fcy\u00fck bir k\u0131sm\u0131 k\u0131sa vadelidir. 30 Eyl\u00fcl 2025 itibar\u0131yla, toplam 4.180.139 Bin TL&#8217;lik finansal y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn 3.671.507 Bin TL&#8217;si (yakla\u015f\u0131k %88&#8217;i) 6 aydan k\u0131sa vadelidir. Bu durum, \u015firketin k\u0131sa vadeli nakit ak\u0131\u015flar\u0131n\u0131 ve refinansman kapasitesini yak\u0131ndan y\u00f6netmesini gerektirmektedir.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"282\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Bir Varl\u0131k Y\u00f6netim \u015eirketinin Bilan\u00e7osu: Rakamlar\u0131n Ard\u0131ndaki 4 \u015ea\u015f\u0131rt\u0131c\u0131 Ger\u00e7ek Giri\u015f: Unutulmu\u015f Bor\u00e7lara Ne Olur? Bankan\u0131z\u0131n art\u0131k pe\u015fine d\u00fc\u015fmedi\u011fi eski bir kredi kart\u0131 borcuna ne oldu\u011funu hi\u00e7 merak ettiniz mi? O borcun sihirli bir \u015fekilde ortadan kayboldu\u011funu d\u00fc\u015f\u00fcnebilirsiniz, ancak ger\u00e7ek&#8230; <\/p>\n","protected":false},"author":1,"featured_media":283,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[53],"class_list":["post-282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-glcvy"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=282"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/282\/revisions"}],"predecessor-version":[{"id":284,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/282\/revisions\/284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/283"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}