Turkey's Halkbank, Vakifbank announce capital increases
March 22, 2023 at 12:59 am EDT
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ISTANBUL, March 22 (Reuters) - Turkish state lenders
Halkbank and Vakifbank said on Tuesday
that they will issue shares to raise their capital by 30 billion
lira ($1.58 billion) and 32 billion lira ($1.68 billion),
respectively.
The shares issued for the capital increase will be sold to
the Turkey Wealth Fund by way of private placement, without a
public offering, the banks said in a statement to the Istanbul
stock exchange.
($1 = 19.0306 liras)
(Reporting by Ceyda Caglayan; Editing by Christian
Schmollinger)
Turkiye Vakiflar Bankasi TAO is a Turkey-based company, which provides a range of banking products and services. It offers its products and services through its corporate, commercial and Small and Medium Enterprises (SME) banking, as well as through its retail and private banking business lines. The Bank is also active in investment banking and capital markets, as well as provides a range of financial services including insurance, financial leasing and factoring through its financial subsidiaries. Its banking products include: time and demand deposit, accumulating account, repos, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans, automobile and housing loans, working capital loans, discounted bills, foreign currency loans, pre-export loans, letters of guarantee, letters of credit, export factoring, acceptance credits, leasing, insurance, futures, salary payments, investment account, bill payments, tax collections and payment orders, among others.