TL 111.7 billion capital support to public banks

The following information was included in the statement made on the TVF website:

“In line with TVF’s mission to support stability and depth in financial markets, Ziraat Bankası A.Ş., Türkiye Halk Bankası A.Ş. and Türkiye Vakıflar Bankası TAO, the necessary studies have been completed to increase their core capital by a total of TL 111.7 billion in order to strengthen their capital structures.

In this context, a core capital increase of Lira 49.7 billion was made to Ziraat Bankası A.Ş., Lira 30 billion to Türkiye Halk Bankası A.Ş. and 32 billion lira to Türkiye Vakıflar Bankası TAO. A.Ş increased from 87.7 percent to 91.5 percent, and the stake in Türkiye Vakıflar Bankası TAO increased from 64.8 percent to 74.8 percent.

In addition to improving the capital adequacy ratios of public banks with the strong capital increase carried out, the aim was to increase the financial strength of the banks in the face of fluctuations in global markets, contribute to their growth strategies, support the real sector and meet the financing needs of our citizens who were affected by the earthquake disaster in our country.

The financing of said operation will be covered by the cash obtained from the sale of the special series Internal Government Debt Securities issued by the Ministry of Finance to the banks at their market value” (AA).