{"id":297,"date":"2025-12-20T20:32:04","date_gmt":"2025-12-20T17:32:04","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=297"},"modified":"2025-12-20T20:32:04","modified_gmt":"2025-12-20T17:32:04","slug":"%f0%9f%94%b4%f0%9f%87%b9%f0%9f%87%b7-smrva-sumer-varlik-yonetim-2025-9-bilanco-analizi-%f0%9f%a7%bf","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/297","title":{"rendered":"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #SMRVA | S\u00fcmer Varl\u0131k Y\u00f6netim 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"\ud83d\udd34\ud83c\uddf9\ud83c\uddf7 #SMRVA | S\u00fcmer Varl\u0131k Y\u00f6netim 2025\/9 Bilan\u00e7o Analizi |  \ud83e\uddff\" width=\"858\" height=\"483\" src=\"https:\/\/www.youtube.com\/embed\/hgyqcmBgiXQ?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>Milyarlarca Liral\u0131k Bor\u00e7 Y\u00f6netiminin Perde Arkas\u0131: S\u00fcmer Varl\u0131k&#8217;\u0131n Raporundan 5 \u00c7arp\u0131c\u0131 Ger\u00e7ek<\/h1>\n<h3><b>Giri\u015f: Rakamlar\u0131n Ard\u0131ndaki Hikaye<\/b><\/h3>\n<p>\u015eirketlerin faaliyet raporlar\u0131 genellikle rakamlarla dolu, karma\u015f\u0131k ve kuru belgeler olarak g\u00f6r\u00fcl\u00fcr. Ancak bu raporlar, finansal bir r\u00f6ntgen filmi gibi, modern bor\u00e7 ekonomisinin karma\u015f\u0131k iskeletini ortaya \u00e7\u0131kar\u0131r. S\u00fcmer Varl\u0131k Y\u00f6netim A.\u015e.&#8217;nin &#8220;01 Ocak- 30 Eyl\u00fcl 2025 Tarihli Faaliyet Raporu&#8221; da tam olarak b\u00f6yle bir belge. Gelin, bu rakamlar\u0131n ard\u0131ndaki s\u0131r perdesini aralayarak be\u015f \u00e7arp\u0131c\u0131 ger\u00e7e\u011fi g\u00fcn y\u00fcz\u00fcne \u00e7\u0131karal\u0131m.<\/p>\n<h3><b>1. Tahsilat Sanat\u0131: Sadece Bir Y\u0131lda %40&#8217;l\u0131k B\u00fcy\u00fcme Nas\u0131l M\u00fcmk\u00fcn Oldu?<\/b><\/h3>\n<p>Bir varl\u0131k y\u00f6netim \u015firketinin ana faaliyet konusu, bankalar\u0131n ve di\u011fer finansal kurulu\u015flar\u0131n &#8220;tahsili gecikmi\u015f alacaklar\u0131n\u0131&#8221;, yani zaman\u0131nda \u00f6denmemi\u015f bor\u00e7lar\u0131n\u0131 devralarak tahsil etmektir. S\u00fcmer Varl\u0131k&#8217;\u0131n bu alandaki performans\u0131 ise nefes kesici. Raporun en \u00e7arp\u0131c\u0131 b\u00fcy\u00fcme metri\u011fi, 2025&#8217;in ilk dokuz ay\u0131nda yap\u0131lan tahsilat\u0131n, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %40 artarak 1,1 milyar TL&#8217;ye ula\u015fmas\u0131.<\/p>\n<p>Bu operasyonel ba\u015far\u0131, do\u011frudan \u015firketin bilan\u00e7osuna da yans\u0131yor. Rapor, 2025&#8217;in ilk dokuz ay\u0131nda elde edilen net k\u00e2r\u0131n (D\u00f6nem Net Kar\u0131\/Zarar\u0131) 810,8 milyon TL&#8217;ye ula\u015ft\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bu rakam, bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6neminde elde edilen 469,5 milyon TL&#8217;lik k\u00e2ra k\u0131yasla %72&#8217;lik devasa bir art\u0131\u015f anlam\u0131na geliyor.<\/p>\n<p>Y\u00f6netim Kurulu Ba\u015fkan\u0131&#8217;n\u0131n mesaj\u0131nda bu ba\u015far\u0131 \u015fu s\u00f6zlerle ifade ediliyor:<\/p>\n<p>Ana faaliyet konumuz olan tahsili gecikmi\u015f alacaklardan 2025 y\u0131l\u0131nda yapt\u0131\u011f\u0131m\u0131z tahsilat, 2024 y\u0131l\u0131n\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %40 art\u0131\u015fla 1,1 milyar TL\u2019ye y\u00fckselmi\u015ftir.<\/p>\n<p>B\u00f6ylesine y\u00fcksek bir b\u00fcy\u00fcme oran\u0131, \u015firketin karma\u015f\u0131k bir sekt\u00f6rde ne kadar etkili bir strateji izledi\u011fini ve operasyonel g\u00fcc\u00fcn\u00fc ortaya koyuyor.<\/p>\n<h3><b>2. Milyarlarca Liral\u0131k Bor\u00e7, Milyonlara Nas\u0131l Al\u0131n\u0131r? \u0130\u015f Modelinin Matemati\u011fi<\/b><\/h3>\n<p>Varl\u0131k y\u00f6netim \u015firketlerinin i\u015f modeli, d\u0131\u015far\u0131dan bak\u0131ld\u0131\u011f\u0131nda olduk\u00e7a ilgin\u00e7 bir matematik \u00fczerine kuruludur. \u0130\u015fte burada i\u015fin matemati\u011fi devreye giriyor. S\u00fcmer Varl\u0131k&#8217;\u0131n raporundaki rakamlar bu modeli net bir \u015fekilde g\u00f6zler \u00f6n\u00fcne seriyor: 30 Eyl\u00fcl 2025 itibar\u0131yla \u015firket, toplam 11,4 milyar TL tutar\u0131ndaki anapara alaca\u011f\u0131n\u0131 devralmak i\u00e7in finansal kurumlara sadece 2 milyar TL \u00f6deme yapm\u0131\u015f. Sadece 2025 y\u0131l\u0131 i\u00e7inde ise 2,7 milyar TL de\u011ferindeki yeni anapara alaca\u011f\u0131 portf\u00f6y\u00fc i\u00e7in \u00f6denen tutar 651,3 milyon TL.<\/p>\n<p>Daha basit bir ifadeyle, \u015firket her 1 liral\u0131k anapara borcunu yakla\u015f\u0131k 18 kuru\u015fa sat\u0131n alm\u0131\u015f oluyor. K\u00e2rl\u0131l\u0131\u011f\u0131n s\u0131rr\u0131, bu devasa iskontoda gizli.<\/p>\n<p>Peki bankalar neden milyarlarca liral\u0131k alaca\u011f\u0131 bu kadar d\u00fc\u015f\u00fck bir bedelle devreder? Cevap, bilan\u00e7olar\u0131n\u0131 temizleme, d\u00fczenleyici sermaye y\u00fck\u00fcml\u00fcl\u00fcklerini kar\u015f\u0131lama ve as\u0131l faaliyet alanlar\u0131 olan kredilendirmeye odaklanma ihtiyac\u0131nda yat\u0131yor. S\u00fcmer Varl\u0131k&#8217;\u0131n i\u015f modeli, tam da bu ihtiyac\u0131n yaratt\u0131\u011f\u0131 finansal bo\u015flu\u011fu dolduruyor.<\/p>\n<h3><b>3. Borsan\u0131n Yeni Oyuncusu Hissedarlar\u0131na &#8220;Merhaba&#8221; Dedi: Halka Arz ve K\u00e2r Pay\u0131 Da\u011f\u0131t\u0131m\u0131<\/b><\/h3>\n<p>S\u00fcmer Varl\u0131k, 2024 y\u0131l\u0131nda halka arz s\u00fcrecini ba\u015far\u0131yla tamamlayarak Borsa \u0130stanbul&#8217;da i\u015flem g\u00f6rmeye ba\u015flad\u0131. \u015eirketin yeni yat\u0131r\u0131mc\u0131lar\u0131na olan ba\u011fl\u0131l\u0131\u011f\u0131n\u0131 g\u00f6stermesi ise uzun s\u00fcrmedi. Halka arzdan k\u0131sa bir s\u00fcre sonra, 2024 y\u0131l\u0131nda elde etti\u011fi k\u00e2r\u0131n \u00f6nemli bir b\u00f6l\u00fcm\u00fcn\u00fc hissedarlar\u0131na da\u011f\u0131tma karar\u0131 ald\u0131.<\/p>\n<p>Raporda belirtildi\u011fi \u00fczere, 18 Haziran 2025 tarihinde hissedarlara toplam 36,2 milyon TL nakit k\u00e2r pay\u0131 (temett\u00fc) da\u011f\u0131t\u0131m\u0131 ger\u00e7ekle\u015ftirildi. Bu hamle, \u015firketin g\u00fc\u00e7l\u00fc finansal sa\u011fl\u0131\u011f\u0131n\u0131n, gelece\u011fe y\u00f6nelik performans\u0131na olan g\u00fcveninin ve yeni halka a\u00e7\u0131k yat\u0131r\u0131mc\u0131lar\u0131na olan taahh\u00fcd\u00fcn\u00fcn \u00f6nemli bir sinyali olarak okunabilir.<\/p>\n<h3><b>4. Direksiyondaki S\u00fcrpriz \u0130simler: Akademisyenler ve E\u011fitimciler Finans Devini Nas\u0131l Y\u00f6netiyor?<\/b><\/h3>\n<p>Bir finans \u015firketinin y\u00f6netim kurulunda genellikle finans ve bankac\u0131l\u0131k k\u00f6kenli profesyonellerin a\u011f\u0131rl\u0131kta olmas\u0131 beklenir. Ancak as\u0131l s\u00fcrpriz ise y\u00f6netim koltu\u011funda oturan isimlerde. S\u00fcmer Varl\u0131k&#8217;\u0131n y\u00f6netim kurulu, beklentileri a\u015fan, disiplinleraras\u0131 bir yap\u0131ya sahip. Rapordaki \u00f6zge\u00e7mi\u015fler incelendi\u011finde bu \u00e7e\u015fitlilik a\u00e7\u0131k\u00e7a g\u00f6r\u00fcl\u00fcyor:<\/p>\n<ul>\n<li><b>Sofu Alt\u0131nba\u015f (Y\u00f6netim Kurulu Ba\u015fkan\u0131):<\/b> Yak\u0131n Do\u011fu \u00dcniversitesi Hukuk Fak\u00fcltesi mezunu.<\/li>\n<li><b>Orkun Alt\u0131nba\u015f (Y\u00f6netim Kurulu Ba\u015fkan Yard\u0131mc\u0131s\u0131):<\/b> &#8220;E\u011fitim Y\u00f6netimi ve Denetimi&#8221; alan\u0131nda doktoras\u0131 bulunuyor.<\/li>\n<li><b>Prof. Dr. Ali Hep\u015fen &amp; Dr. Emek Toraman \u00c7olgar (Ba\u011f\u0131ms\u0131z \u00dcyeler):<\/b> Her ikisi de kendi alanlar\u0131nda sayg\u0131n akademisyenler. Prof. Dr. Hep\u015fen bir finans profes\u00f6r\u00fc, Dr. \u00c7olgar ise bir hukuk doktoru ve \u00f6\u011fretim \u00fcyesi.<\/li>\n<\/ul>\n<p>Bu yap\u0131, tesad\u00fcfi bir birle\u015fim de\u011fil, bilin\u00e7li bir stratejinin yans\u0131mas\u0131d\u0131r: Hukuk\u00e7u bir ba\u015fkanla yasal zemini sa\u011flama almak, e\u011fitim y\u00f6netimi doktoras\u0131 olan bir vekille operasyonel sistemleri ve insan kayna\u011f\u0131n\u0131 optimize etmek ve ba\u011f\u0131ms\u0131z akademisyenlerle finansal ve hukuki denetime entelekt\u00fcel bir derinlik katmak. Bu, \u015firketin sadece paray\u0131 de\u011fil, ayn\u0131 zamanda bilgiyi ve sistemi de y\u00f6netti\u011fini g\u00f6steriyor.<\/p>\n<h3><b>5. Telefondan Daha Fazlas\u0131: Bor\u00e7 Tahsilat\u0131nda Teknolojinin Rol\u00fc<\/b><\/h3>\n<p>Bor\u00e7 tahsilat\u0131, \u00e7a\u011fr\u0131 merkezlerinde bitmeyen telefon g\u00f6r\u00fc\u015fmelerinden ibaret san\u0131labilir. Ancak S\u00fcmer Varl\u0131k, bu eski usul imaj\u0131 y\u0131karak operasyonlar\u0131n\u0131n kalbine bir FinTech \u015firketinin hassasiyetiyle teknolojiyi yerle\u015ftiriyor. Raporun &#8220;Ara\u015ft\u0131rma-Geli\u015ftirme Faaliyetleri&#8221; b\u00f6l\u00fcm\u00fc, bu modern yakla\u015f\u0131m\u0131 net bir \u015fekilde ortaya koyuyor.<\/p>\n<p>\u015eirket, sekt\u00f6rdeki tecr\u00fcbelerinden yola \u00e7\u0131karak kendi \u00f6zel &#8220;tahsilat ve kurumsal kaynak planlama yaz\u0131l\u0131m\u0131n\u0131&#8221; geli\u015ftirmi\u015f ve 2025 y\u0131l\u0131nda devreye alm\u0131\u015ft\u0131r. Bu yaz\u0131l\u0131m; \u00e7a\u011fr\u0131 merkezi, hukuk ekipleri ve operasyonel birimleri entegre ederek verimlili\u011fi en \u00fcst d\u00fczeye \u00e7\u0131karmay\u0131 hedefliyor. Bu durum, \u015firketin sadece geleneksel bir tahsilat firmas\u0131 olmad\u0131\u011f\u0131n\u0131, ayn\u0131 zamanda bir FinTech odakl\u0131 strateji izledi\u011fini kan\u0131tl\u0131yor.<\/p>\n<h3><b>Sonu\u00e7: Rakamlar\u0131n \u00d6tesine Bakmak<\/b><\/h3>\n<p>S\u00fcmer Varl\u0131k&#8217;\u0131n raporu, finansal tablolar\u0131n so\u011fuk rakamlardan ibaret olmad\u0131\u011f\u0131n\u0131, aksine do\u011fru okundu\u011funda bir sekt\u00f6r\u00fcn dinamiklerini, bir \u015firketin stratejik zekas\u0131n\u0131 ve ekonominin g\u00f6r\u00fcnmeyen ak\u0131nt\u0131lar\u0131n\u0131 anlatan canl\u0131 bir hikaye oldu\u011funu kan\u0131tl\u0131yor. Bu sadece bir \u00e7eyrek d\u00f6nem raporu de\u011fil; milyarlarca liral\u0131k borcun nas\u0131l bir de\u011fere d\u00f6n\u00fc\u015ft\u00fc\u011f\u00fcn\u00fcn, akademinin ve i\u015f d\u00fcnyas\u0131n\u0131n nas\u0131l bir araya geldi\u011finin ve teknolojinin geleneksel bir sekt\u00f6r\u00fc nas\u0131l yeniden \u015fekillendirdi\u011finin bir kan\u0131t\u0131. G\u00f6zler \u015fimdi bir sonraki b\u00f6l\u00fcmde: Bu b\u00fcy\u00fcme makinesi ayn\u0131 h\u0131zda \u00e7al\u0131\u015fmaya devam edecek mi?<\/p>\n<p>&nbsp;<\/p>\n<h1><span style=\"color: #0000ff;\">S\u00fcmer Varl\u0131k Y\u00f6netim A.\u015e. 2025 \u00dc\u00e7\u00fcnc\u00fc \u00c7eyrek Durum Raporu<\/span><\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu brifing belgesi, S\u00fcmer Varl\u0131k Y\u00f6netim A.\u015e.&#8217;nin 01 Ocak &#8211; 30 Eyl\u00fcl 2025 d\u00f6nemine ait faaliyet raporu ve finansal tablolar\u0131n\u0131 sentezleyerek \u015firketin kurumsal yap\u0131s\u0131, operasyonel performans\u0131, finansal durumu ve stratejik hedefleri hakk\u0131nda kapsaml\u0131 bir analiz sunmaktad\u0131r. 2024 y\u0131l\u0131nda ger\u00e7ekle\u015ftirdi\u011fi ba\u015far\u0131l\u0131 halka arz\u0131n ard\u0131ndan \u015firket, kurumsal y\u00f6netim yap\u0131s\u0131n\u0131 g\u00fc\u00e7lendirmi\u015f, yeni ba\u011f\u0131ms\u0131z y\u00f6netim kurulu \u00fcyeleri atam\u0131\u015f ve ilgili komiteleri kurmu\u015ftur.<\/p>\n<p>D\u00f6nemin \u00f6ne \u00e7\u0131kan finansal ba\u015far\u0131s\u0131, tahsili gecikmi\u015f alacaklardan yap\u0131lan tahsilatlar\u0131n 2024&#8217;\u00fcn ayn\u0131 d\u00f6nemine g\u00f6re %40 art\u0131\u015fla 1,1 milyar TL&#8217;ye ula\u015fmas\u0131d\u0131r. \u015eirket, 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda 2,7 milyar TL anapara b\u00fcy\u00fckl\u00fc\u011f\u00fcndeki 13 yeni portf\u00f6y\u00fc 651,3 milyon TL&#8217;ye sat\u0131n alarak yat\u0131r\u0131m faaliyetlerine devam etmi\u015ftir. D\u00f6nem sonu itibar\u0131yla toplam varl\u0131klar\u0131 5,12 milyar TL&#8217;ye, \u00f6zkaynaklar\u0131 ise 2,48 milyar TL&#8217;ye y\u00fckselmi\u015ftir. \u015eirket, 9 ayl\u0131k d\u00f6nemde 810,8 milyon TL net k\u00e2r elde etmi\u015ftir.<\/p>\n<p>2024 y\u0131l\u0131 k\u00e2r\u0131ndan 36,2 milyon TL tutar\u0131nda temett\u00fc da\u011f\u0131t\u0131m\u0131 18 Haziran 2025&#8217;te ger\u00e7ekle\u015ftirilmi\u015f olup, \u015firket 2024, 2025 ve 2026 y\u0131llar\u0131 i\u00e7in net da\u011f\u0131t\u0131labilir d\u00f6nem k\u00e2r\u0131n\u0131n asgari %25&#8217;ini da\u011f\u0131tma taahh\u00fcd\u00fcn\u00fc s\u00fcrd\u00fcrmektedir. JCR Eurasia Rating taraf\u0131ndan \u015firketin Uzun Vadeli Ulusal Kurum Kredi Notu &#8216;AA-(tr)&#8217; olarak teyit edilmi\u015ftir. G\u00fc\u00e7l\u00fc finansal yap\u0131s\u0131 ve sekt\u00f6rdeki b\u00fcy\u00fcme beklentileri do\u011frultusunda S\u00fcmer Varl\u0131k&#8217;\u0131n yat\u0131r\u0131mlar\u0131na devam etmesi \u00f6ng\u00f6r\u00fclmektedir.<\/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<h2>1. Kurumsal Kimlik ve Yap\u0131<\/h2>\n<h3>1.1. \u015eirket K\u00fcnyesi ve Tarih\u00e7e<\/h3>\n<p>S\u00fcmer Varl\u0131k Y\u00f6netim A.\u015e., Bankac\u0131l\u0131k D\u00fczenleme ve Denetleme Kurumu&#8217;nun (BDDK) 28.11.2014 tarihli ve 6090 say\u0131l\u0131 karar\u0131 ile kurulu\u015f izni alm\u0131\u015f ve 09.03.2015 tarihinde tescil edilerek kurulmu\u015ftur. \u015eirkete, BDDK&#8217;n\u0131n 22.04.2015 tarihli ve 6284 say\u0131l\u0131 karar\u0131 ile faaliyet izni verilmi\u015ftir.<\/p>\n<p>2016 y\u0131l\u0131nda \u015firketin t\u00fcm hisseleri, Sofu Alt\u0131nba\u015f ve Vakkas Alt\u0131nba\u015f\u2019\u0131n ana hissedar oldu\u011fu ASV Holding A.\u015e.&#8217;ye devredilmi\u015ftir. \u015eirket, 2024 y\u0131l\u0131nda halka arz\u0131n\u0131 ba\u015far\u0131yla tamamlam\u0131\u015f ve paylar\u0131 18.12.2024 tarihinde borsada i\u015flem g\u00f6rmeye ba\u015flam\u0131\u015ft\u0131r.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ticari Bilgiler<\/td>\n<td>Detay<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Unvan\u0131<\/b><\/td>\n<td>S\u00fcmer Varl\u0131k Y\u00f6netim Anonim \u015eirketi<\/td>\n<\/tr>\n<tr>\n<td><b>Ticaret Sicil No<\/b><\/td>\n<td>965118 (\u0130stanbul Ticaret Sicil M\u00fcd\u00fcrl\u00fc\u011f\u00fc)<\/td>\n<\/tr>\n<tr>\n<td><b>Merkez Adres<\/b><\/td>\n<td>Esentepe Mah. B\u00fcy\u00fckdere Caddesi \u00d6zsezen \u0130\u015f Merkezi B Blok No:124 Kat:1-2-3 \u015ei\u015fli \u0130stanbul<\/td>\n<\/tr>\n<tr>\n<td><b>Mersis Numaras\u0131<\/b><\/td>\n<td>786025151200018<\/td>\n<\/tr>\n<tr>\n<td><b>\u0130nternet Sitesi<\/b><\/td>\n<td>www.sumervarlik.com.tr<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>1.2. Sermaye ve Ortakl\u0131k Yap\u0131s\u0131<\/h3>\n<p>30 Eyl\u00fcl 2025 tarihi itibar\u0131yla \u015eirket&#8217;in tamam\u0131 \u00f6denmi\u015f sermayesi 118.000.000 TL&#8217;dir. \u015eirket sermayesi i\u00e7inde imtiyazl\u0131 pay bulunmamaktad\u0131r.<\/p>\n<p><b>Ortakl\u0131k Yap\u0131s\u0131 (30.09.2025)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ortak<\/td>\n<td>Pay Oran\u0131 (%)<\/td>\n<td>Hisse Adedi<\/td>\n<td>Toplam De\u011fer (Bin TL)<\/td>\n<\/tr>\n<tr>\n<td>ASV Holding A.\u015e.<\/td>\n<td>68,64%<\/td>\n<td>81.000.000<\/td>\n<td>81.000<\/td>\n<\/tr>\n<tr>\n<td>S\u00fcmer Faktoring A.\u015e.<\/td>\n<td>7,63%<\/td>\n<td>9.000.000<\/td>\n<td>9.000<\/td>\n<\/tr>\n<tr>\n<td>Halka A\u00e7\u0131k K\u0131s\u0131m<\/td>\n<td>23,73%<\/td>\n<td>28.000.000<\/td>\n<td>28.000<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam<\/b><\/td>\n<td><b>100%<\/b><\/td>\n<td><b>118.000.000<\/b><\/td>\n<td><b>118.000<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u015eirketin dolayl\u0131 h\u00e2kim ortaklar\u0131, t\u00fczel ortaklar olan ASV Holding A.\u015e. ve S\u00fcmer Faktoring A.\u015e.&#8217;nin nihai ortaklar\u0131 olan Sofu Alt\u0131nba\u015f ve Vakkas Alt\u0131nba\u015f&#8217;t\u0131r.<\/p>\n<h3>1.3. Faaliyet Alanlar\u0131<\/h3>\n<p>\u015eirketin ana faaliyet konusu, bankalar\u0131n ve di\u011fer mali kurumlar\u0131n tahsili gecikmi\u015f alacaklar\u0131n\u0131 ve di\u011fer varl\u0131klar\u0131n\u0131 sat\u0131n almak, bu alacaklar\u0131 tahsil etmek, yeniden yap\u0131land\u0131rmak ve satmakt\u0131r. Ayr\u0131ca, kurumsal ve finansal yeniden yap\u0131land\u0131rma alanlar\u0131nda dan\u0131\u015fmanl\u0131k hizmeti verme ve sermaye piyasas\u0131 mevzuat\u0131 dahilinde menkul k\u0131ymet ihra\u00e7 etme yetkisine de sahiptir.<\/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<h2>2. Y\u00f6netim ve Kurumsal Y\u00f6neti\u015fim<\/h2>\n<h3>2.1. Y\u00f6netim Kurulu<\/h3>\n<p>Y\u00f6netim Kurulu sekiz \u00fcyeden olu\u015fmaktad\u0131r. 28 May\u0131s 2025 tarihli Ola\u011fan Genel Kurul&#8217;da SPK Kurumsal Y\u00f6netim \u0130lkeleri&#8217;ne uyum kapsam\u0131nda Y\u00f6netim Kurulu&#8217;na iki ba\u011f\u0131ms\u0131z \u00fcye se\u00e7ilmi\u015ftir.<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Ad\u0131 Soyad\u0131<\/td>\n<td>G\u00f6revi<\/td>\n<td>Atanma Tarihi<\/td>\n<\/tr>\n<tr>\n<td>Sofu Alt\u0131nba\u015f<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan\u0131<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<tr>\n<td>Orkun Alt\u0131nba\u015f<\/td>\n<td>Y\u00f6netim Kurulu Ba\u015fkan Yard\u0131mc\u0131s\u0131<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<tr>\n<td>Mehmet \u015een<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi \/ Genel M\u00fcd\u00fcr<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<tr>\n<td>Cihangir Y\u0131lmaz<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<tr>\n<td>Sinan \u00c7am<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<tr>\n<td>Ahmet Kur\u015fun<\/td>\n<td>Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<tr>\n<td>Prof. Dr. Ali Hep\u015fen<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<tr>\n<td>Dr. Emek Toraman \u00c7olgar<\/td>\n<td>Ba\u011f\u0131ms\u0131z Y\u00f6netim Kurulu \u00dcyesi<\/td>\n<td>28 May\u0131s 2025<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>Not: Y\u00f6netim Kurulu Ba\u015fkan Yard\u0131mc\u0131s\u0131 Vakkas Alt\u0131nba\u015f, 15.04.2025&#8217;te istifa etmi\u015f, yerine Orkun Alt\u0131nba\u015f atanm\u0131\u015ft\u0131r. Atama, 28.05.2025 tarihli Genel Kurul&#8217;da kal\u0131c\u0131 hale getirilmi\u015ftir.<\/i><\/p>\n<p>Rapor d\u00f6neminde Y\u00f6netim Kurulu 44 adet karar alm\u0131\u015f olup, toplant\u0131lara ortalama kat\u0131l\u0131m oran\u0131 %92,10 olarak ger\u00e7ekle\u015fmi\u015ftir.<\/p>\n<h3>2.2. Y\u00f6netim Kurulu Komiteleri<\/h3>\n<p>\u015eirket, kurumsal y\u00f6netim yap\u0131s\u0131n\u0131 g\u00fc\u00e7lendirmek amac\u0131yla 19 Haziran 2025 tarihinde a\u015fa\u011f\u0131daki komiteleri olu\u015fturmu\u015ftur:<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Komite<\/td>\n<td>Ba\u015fkan<\/td>\n<td>\u00dcyeler<\/td>\n<\/tr>\n<tr>\n<td><b>Kurumsal Y\u00f6netim Komitesi<\/b><\/td>\n<td>Dr. Emek TORAMAN \u00c7OLGAR<\/td>\n<td>Prof. Dr. Ali HEP\u015eEN, Yi\u011fit KOZALI<\/td>\n<\/tr>\n<tr>\n<td><b>Denetimden Sorumlu Komite<\/b><\/td>\n<td>Prof. Dr. Ali HEP\u015eEN<\/td>\n<td>Dr. Emek TORAMAN \u00c7OLGAR<\/td>\n<\/tr>\n<tr>\n<td><b>Riskin Erken Saptanmas\u0131 Komitesi<\/b><\/td>\n<td>Prof. Dr. Ali HEP\u015eEN<\/td>\n<td>Dr. Emek TORAMAN \u00c7OLGAR, Ahmet KUR\u015eUN<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Kurumsal Y\u00f6netim Komitesi, Aday G\u00f6sterme ve \u00dccret Komitelerinin g\u00f6revlerini de yerine getirmektedir.<\/p>\n<h3>2.3. Kurumsal Y\u00f6netim \u0130lkelerine Uyum<\/h3>\n<p>\u015eirket, Sermaye Piyasas\u0131 Kurulu&#8217;nun (SPK) d\u00fczenlemelerine uyum sa\u011flamak amac\u0131yla &#8220;e\u015fitlik&#8221;, &#8220;\u015feffafl\u0131k&#8221;, &#8220;hesap verebilirlik&#8221; ve &#8220;sorumluluk&#8221; ilkelerini benimsedi\u011fini beyan etmektedir. 2025 y\u0131l\u0131 i\u00e7erisinde komitelerin kurulmas\u0131yla kurumsal y\u00f6netim uygulamalar\u0131n\u0131n etkinli\u011finin art\u0131r\u0131lmas\u0131 hedeflenmektedir.<\/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<h2>3. Faaliyetler ve Operasyonel Geli\u015fmeler<\/h2>\n<h3>3.1. Alacak Portf\u00f6y\u00fc Yat\u0131r\u0131mlar\u0131<\/h3>\n<p>\u015eirket, ana faaliyet konusu olan tahsili gecikmi\u015f alacak portf\u00f6y\u00fc yat\u0131r\u0131mlar\u0131n\u0131 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda da s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr.<\/p>\n<ul>\n<li><b>2025 Y\u0131l\u0131 Yat\u0131r\u0131mlar\u0131:<\/b> 01.01.2025 &#8211; 30.09.2025 tarihleri aras\u0131nda <b>2,7 milyar TL<\/b> anapara b\u00fcy\u00fckl\u00fc\u011f\u00fcne sahip 13 adet tahsili gecikmi\u015f alacak portf\u00f6y\u00fc, <b>651,3 milyon TL<\/b> toplam sat\u0131n alma bedeli ile sat\u0131n al\u0131nm\u0131\u015ft\u0131r.<\/li>\n<li><b>Toplam Yat\u0131r\u0131mlar:<\/b> \u015eirket, bug\u00fcne kadar toplamda <b>11,4 milyar TL<\/b> anapara alaca\u011f\u0131 i\u00e7in bankalara <b>2 milyar TL<\/b> \u00f6deme yapm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<h3>3.2. Tahsilat Performans\u0131<\/h3>\n<p>\u015eirketin tahsilat performans\u0131, 2024 y\u0131l\u0131n\u0131n ayn\u0131 d\u00f6nemine k\u0131yasla \u00f6nemli bir art\u0131\u015f g\u00f6stermi\u015ftir.<\/p>\n<ul>\n<li><b>2025 Y\u0131l\u0131 Tahsilat\u0131 (9 Ayl\u0131k):<\/b> <b>1,1 milyar TL<\/b><\/li>\n<li><b>Y\u0131ll\u0131k Art\u0131\u015f Oran\u0131:<\/b> <b>%40<\/b><\/li>\n<\/ul>\n<h3>3.3. Ara\u015ft\u0131rma ve Geli\u015ftirme Faaliyetleri<\/h3>\n<p>Sekt\u00f6r tecr\u00fcbeleri \u0131\u015f\u0131\u011f\u0131nda geli\u015ftirilen yeni <b>tahsilat ve kurumsal kaynak planlama (ERP) yaz\u0131l\u0131m\u0131<\/b> 2025 y\u0131l\u0131nda devreye al\u0131nm\u0131\u015ft\u0131r. Bu yaz\u0131l\u0131m, \u00e7a\u011fr\u0131 merkezi, hukuk ekipleri ve di\u011fer operasyonel birimler aras\u0131nda koordinasyonu ve verimlili\u011fi art\u0131rmay\u0131 hedeflemektedir. Yaz\u0131l\u0131ma ili\u015fkin geli\u015ftirmeler i\u00e7 ve d\u0131\u015f kaynaklar kullan\u0131larak devam etmektedir.<\/p>\n<h3>3.4. Personel ve \u0130stihdam<\/h3>\n<p>30 Eyl\u00fcl 2025 tarihi itibar\u0131yla \u015eirket&#8217;te <b>215 personel<\/b> \u00e7al\u0131\u015fmaktad\u0131r. \u015eirkette toplu i\u015f s\u00f6zle\u015fmesi uygulanmamakta olup, personel ili\u015fkileri 4857 say\u0131l\u0131 \u0130\u015f Kanunu \u00e7er\u00e7evesinde y\u00fcr\u00fct\u00fclmektedir.<\/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<h2>4. Finansal Durum ve Performans Analizi<\/h2>\n<p>\u015eirket, 01 Ocak &#8211; 30 Eyl\u00fcl 2025 d\u00f6neminde g\u00fc\u00e7l\u00fc bir finansal performans sergilemi\u015ftir. T\u00fcm tutarlar, aksi belirtilmedik\u00e7e Bin T\u00fcrk Liras\u0131 (&#8220;Bin TL&#8221;) olarak ifade edilmi\u015ftir.<\/p>\n<h3>4.1. \u00d6zet Finansal Tablolar<\/h3>\n<p><b>\u00d6zet Finansal Durum Tablosu (Bilan\u00e7o)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalemler<\/td>\n<td>30.09.2025<\/td>\n<td>31.12.2024<\/td>\n<\/tr>\n<tr>\n<td>Nakit ve Nakit Benzerleri<\/td>\n<td>1.854.752<\/td>\n<td>953.762<\/td>\n<\/tr>\n<tr>\n<td>Krediler (Net)<\/td>\n<td>3.036.188<\/td>\n<td>2.420.771<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Aktifler<\/b><\/td>\n<td><b>5.117.413<\/b><\/td>\n<td><b>3.620.823<\/b><\/td>\n<\/tr>\n<tr>\n<td>Al\u0131nan Krediler<\/td>\n<td>334.804<\/td>\n<td>139.650<\/td>\n<\/tr>\n<tr>\n<td>\u0130hra\u00e7 Edilen Menkul K\u0131ymetler<\/td>\n<td>1.747.206<\/td>\n<td>1.257.895<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Y\u00fck\u00fcml\u00fcl\u00fckler<\/b><\/td>\n<td>2.633.407<\/td>\n<td>1.911.403<\/td>\n<\/tr>\n<tr>\n<td><b>\u00d6zkaynaklar<\/b><\/td>\n<td><b>2.484.006<\/b><\/td>\n<td><b>1.709.420<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Pasifler<\/b><\/td>\n<td><b>5.117.413<\/b><\/td>\n<td><b>3.620.823<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>\u00d6zet Gelir Tablosu (\u0130lk 9 Ay)<\/b><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalemler<\/td>\n<td>01.01.2025 &#8211; 30.09.2025<\/td>\n<td>01.01.2024 &#8211; 30.09.2024<\/td>\n<\/tr>\n<tr>\n<td>Faiz Gelirleri<\/td>\n<td>1.162.863<\/td>\n<td>1.311.652<\/td>\n<\/tr>\n<tr>\n<td>Faiz Giderleri (-)<\/td>\n<td>(674.715)<\/td>\n<td>(245.764)<\/td>\n<\/tr>\n<tr>\n<td>Ticari K\u00e2r\/Zarar<\/td>\n<td>1.076.064<\/td>\n<td>15.171<\/td>\n<\/tr>\n<tr>\n<td><b>Net Faaliyet K\u00e2r\u0131<\/b><\/td>\n<td><b>947.698<\/b><\/td>\n<td><b>671.133<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>D\u00f6nem Net K\u00e2r\u0131<\/b><\/td>\n<td><b>810.772<\/b><\/td>\n<td><b>469.474<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Hisse Ba\u015f\u0131na K\u00e2r (TL)<\/b><\/td>\n<td>6,87<\/td>\n<td>4,69<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>4.2. Finansal Oranlar ve De\u011ferlendirme<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Finansal Oranlar (%)<\/td>\n<td>30.09.2025<\/td>\n<td>31.12.2024<\/td>\n<\/tr>\n<tr>\n<td>Toplam Bor\u00e7lar \/ \u00d6z Kaynaklar<\/td>\n<td>84%<\/td>\n<td>82%<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nem K\u00e2r\u0131 \/ \u00d6zkaynak*<\/td>\n<td>24,5%<\/td>\n<td>31,8%<\/td>\n<\/tr>\n<tr>\n<td>D\u00f6nem Net K\u00e2r\u0131 \/ Toplam Aktifler*<\/td>\n<td>11,9%<\/td>\n<td>15,0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><i>Oranlar y\u0131ll\u0131\u011fa \u00e7evrilmi\u015ftir.<\/i><\/p>\n<p>\u015eirket, 2025 y\u0131l\u0131n\u0131n ilk dokuz ay\u0131nda stratejik hedeflerine ula\u015fm\u0131\u015f, verimli ve k\u00e2rl\u0131 bir d\u00f6nemi geride b\u0131rakm\u0131\u015ft\u0131r. Toplam varl\u0131klar ve \u00f6zkaynaklar, y\u0131lba\u015f\u0131na g\u00f6re \u00f6nemli \u00f6l\u00e7\u00fcde art\u0131\u015f g\u00f6stermi\u015ftir. Sermayenin kar\u015f\u0131l\u0131ks\u0131z kalmas\u0131 veya borca bat\u0131kl\u0131k durumu s\u00f6z konusu de\u011fildir.<\/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<h2>5. Sermaye Piyasas\u0131 ve Yat\u0131r\u0131mc\u0131 \u0130li\u015fkileri<\/h2>\n<h3>5.1. K\u00e2r Pay\u0131 Da\u011f\u0131t\u0131m Politikas\u0131 ve Uygulamas\u0131<\/h3>\n<p>\u015eirket, azami k\u00e2r\u0131n da\u011f\u0131t\u0131lmas\u0131 hedefini benimsemi\u015ftir. 2024, 2025 ve 2026 mali y\u0131llar\u0131 i\u00e7in, ilgili mevzuat ve finansal imkanlar elverdi\u011fi s\u00fcrece, net da\u011f\u0131t\u0131labilir d\u00f6nem k\u00e2r\u0131n\u0131n asgari %25&#8217;inin da\u011f\u0131t\u0131lmas\u0131 taahh\u00fct edilmektedir.<\/p>\n<ul>\n<li><b>2024 Y\u0131l\u0131 K\u00e2r Da\u011f\u0131t\u0131m\u0131:<\/b> 28 May\u0131s 2025 tarihli Ola\u011fan Genel Kurul&#8217;da al\u0131nan kararla, 2024 y\u0131l\u0131na ait <b>36.184.595,93 TL<\/b> br\u00fct k\u00e2r\u0131n temett\u00fc olarak da\u011f\u0131t\u0131lmas\u0131na karar verilmi\u015ftir. Da\u011f\u0131t\u0131m i\u015flemi <b>18 Haziran 2025<\/b> tarihinde ger\u00e7ekle\u015ftirilmi\u015ftir.<\/li>\n<\/ul>\n<h3>5.2. Kredi Derecelendirme Notu<\/h3>\n<p>JCR Eurasia Rating, 27 Ekim 2025 tarihinde \u015firketin <b>Uzun Vadeli Ulusal Kurum Kredi Rating Notu&#8217;nu &#8216;AA-(tr)&#8217;<\/b> olarak teyit etmi\u015ftir. Bu not, \u015firketin g\u00fc\u00e7l\u00fc finansal yap\u0131s\u0131n\u0131 ve kredibilitesini yans\u0131tmaktad\u0131r.<\/p>\n<h3>5.3. Ola\u011fan Genel Kurul Toplant\u0131s\u0131<\/h3>\n<p>2024 Y\u0131l\u0131 Ola\u011fan Genel Kurul Toplant\u0131s\u0131, 28 May\u0131s 2025 tarihinde ger\u00e7ekle\u015ftirilmi\u015ftir. Toplant\u0131da ba\u011f\u0131ms\u0131z y\u00f6netim kurulu \u00fcyeleri se\u00e7ilmi\u015f, kurumsal y\u00f6netim politikalar\u0131 kabul edilmi\u015f ve 2024 y\u0131l\u0131 k\u00e2r da\u011f\u0131t\u0131m\u0131 karara ba\u011flanm\u0131\u015ft\u0131r.<\/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<h2>6. Risk Y\u00f6netimi<\/h2>\n<h3>6.1. Risk Y\u00f6netimi Politikas\u0131 ve Uygulamalar\u0131<\/h3>\n<p>\u015eirket, faaliyetlerinin kapsam\u0131 ve yap\u0131s\u0131yla uyumlu, etkin bir risk y\u00f6netimi ve i\u00e7 kontrol sistemi kurmakla y\u00fck\u00fcml\u00fcd\u00fcr. Bu kapsamda Y\u00f6netim Kurulu&#8217;na ba\u011fl\u0131 olarak \u00e7al\u0131\u015fan bir \u0130\u00e7 Kontrol Birimi bulunmaktad\u0131r. Elektronik veri g\u00fcvenli\u011fi ve i\u015f s\u00fcreklili\u011fi i\u00e7in teknolojik yat\u0131r\u0131mlar yap\u0131lm\u0131\u015f ve ola\u011fan\u00fcst\u00fc durum merkezi kurulmu\u015ftur.<\/p>\n<h3>6.2. Riskin Erken Saptanmas\u0131 Komitesi (RESKOM)<\/h3>\n<p>TTK ve SPK mevzuat\u0131 gere\u011fince 19 Haziran 2025 tarihinde kurulan komite, ilk toplant\u0131s\u0131n\u0131 30 Temmuz 2025&#8217;te ger\u00e7ekle\u015ftirmi\u015f ve al\u0131nan kararlar\u0131 Y\u00f6netim Kurulu&#8217;na sunmu\u015ftur. Komite, y\u0131lda en az iki kez toplanarak \u015firketin maruz kalabilece\u011fi stratejik, operasyonel, finansal ve uyum risklerini erken a\u015famada tespit etmek ve y\u00f6netmek i\u00e7in \u00e7al\u0131\u015fmalar yapmaktad\u0131r.<\/p>\n<h3>6.3. \u0130leriye D\u00f6n\u00fck Riskler ve Beklentiler<\/h3>\n<p>\u015eirket, 2025 y\u0131l\u0131nda bankalar\u0131n ve di\u011fer finansal kurumlar\u0131n takipteki alacak sat\u0131\u015f ihalelerinde portf\u00f6y\u00fcn\u00fc \u00e7e\u015fitlendirerek sekt\u00f6rdeki pay\u0131n\u0131 art\u0131rmay\u0131 hedeflemektedir. Verimlili\u011fi ve k\u00e2rl\u0131l\u0131\u011f\u0131 art\u0131rmak, olas\u0131 riskleri engellemek i\u00e7in m\u00fc\u015fteri ihtiya\u00e7lar\u0131 ve yasal d\u00fczenlemeler \u00e7er\u00e7evesinde stratejiler olu\u015fturulmaktad\u0131r. Y\u00f6netim Kurulu, risk y\u00f6netimi politika ve usullerini d\u00fczenli olarak de\u011ferlendirmektedir.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"297\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>Milyarlarca Liral\u0131k Bor\u00e7 Y\u00f6netiminin Perde Arkas\u0131: S\u00fcmer Varl\u0131k&#8217;\u0131n Raporundan 5 \u00c7arp\u0131c\u0131 Ger\u00e7ek Giri\u015f: Rakamlar\u0131n Ard\u0131ndaki Hikaye \u015eirketlerin faaliyet raporlar\u0131 genellikle rakamlarla dolu, karma\u015f\u0131k ve kuru belgeler olarak g\u00f6r\u00fcl\u00fcr. Ancak bu raporlar, finansal bir r\u00f6ntgen filmi gibi, modern bor\u00e7 ekonomisinin karma\u015f\u0131k&#8230; <\/p>\n","protected":false},"author":1,"featured_media":298,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[58],"class_list":["post-297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-smrva"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/297","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=297"}],"version-history":[{"count":1,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/297\/revisions"}],"predecessor-version":[{"id":299,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/297\/revisions\/299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/298"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}