Capital transfer of TL 111.7 billion to public banks completed

Turkey Wealth Fund (TVF) announced that efforts to increase the core capital of Ziraat Bank, Halk Bank and Vakıfbank by TL 111.7 billion in total have been completed to strengthen their capital structures.

In the statement made by TVF yesterday afternoon, it was stated that a core capital increase of TL 49.7 billion was made to Ziraat Bank, TL 30 billion to Halkbank and TL 32 billion to Vakıfbank.

THE PARTICIPATION OF THE COMPANY IN HALKBANK INCREASED TO 91.5 PERCENT

After the capital increase, TVF’s partnership stake in Halkbank increased from 87.7 percent to 91.5 percent, and the stake in Vakıfbank from 64.8 percent to 74.8 percent.

In the statement, it was indicated that the capital increase seeks to improve the capital adequacy ratios of public banks, increase the financial soundness of banks in the face of fluctuations that may occur in global markets and contribute to their investment strategies. growth. .

The financing of the operation will be covered with the cash obtained from the sale of special issued Government Domestic Debt Securities issued by the Treasury to banks at market value. (Reuters)