Capital increase of TL 21 billion to state banks

Asset Fund said in a statement last night from Turkey: Strengthen the capital structures of three banks and support their adequacy In order to increase the central capital by a total of TL 21 billion, it was stated that the necessary studies were started. With this measure, it is intended that public banks can grant more loans to provide cash flow to the economy. Currently, all of Ziraat Bank and most of Halkbank are owned by TVF.

‘SYNERGY WILL STRENGTHEN’

The statement said: “The coordination and synergy between the three banks will be strengthened with this transaction, where TVF will be a shareholder in Vakıfbank.”

THE COST WILL BE PROVIDED WITH DEBT VALUES THAT WILL BE SOLD TO THE BANKS

Also in the statement “The financing of the transaction will be covered by the cash that will be obtained from the sale of the government’s internal debt securities issued by the Ministry of Finance and Finance to the banks.Declaration took place.

According to Vakıfbank’s announcement to KAP last night, the bank-issued capital of TL 2.5 trillion was completely restricted by the pre-emptive rights of existing shareholders, with a total sales revenue of Lire 7 trillion in total, allocated and in cash . It was stated that it was decided to increase by means of a capital increase in cash.

In Halkbank’s statement, according to the sale price of the shares, total sales revenue will be determined at TL 7 billion through the cash capital increase, limiting the pre-emptive subscription rights of all existing shareholders , with a total of 1.25 billion TL, each made up of shares with a nominal value of 0.01 TL. It was stated that it was decided to increase the total nominal capital to be calculated. (Reuters)

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