As stated by the IFC, the proposed financing package involves an up to US$50 million senior loan from IFC’s own accounts to Akbank T.A.S., which is a systematically important Turkish bank headquartered in Istanbul. The tenor of the financing package is 3-year plus 1-week and proceeds of the investment will be used to support MSMEs located in the southeastern provinces of Turkey – those that are most affected by the influx of Syrians under Temporary Protection – with the aim to contribute to the sustainable development of the country.
The IFC categorized the project as FI-2.
As stated by the IFC, Akbank is one of the leading banks in Turkey with USD 62 billion consolidated assets as of 1H 2021. Incorporated in 1948, the bank is 48.8% owned by Haci Omer Sabanci Holding Anonim Sirketi affiliated institutions and individuals, and the remaining 51.2% is free float*. Akbank continues to provide financial solutions to its customers leveraging its solid capital base, effective asset & liability management, diversified funding base, strong liquidity, best-in-class efficiency and prudent risk management together with its subsidiaries. Akbank AG, Ak Asset Management, Ak Investment, Ak Lease and AkÖde.
Both Akbank and Sabanci Holding are listed on Borsa Istanbul Stock Exchange.
* Shareholder composition calculation is based on the “Ordinary General Assembly Meeting Shareholder List” dated 24.03.2021.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Akbank T.A.S.:
Mustafa Altug Ülker - International Banking Division Foreign Borrowings Vice President
Phone: +90 (212) 385 6238
Address: Akbank Genel Müdürlügü Sabanci Center 4. Levent 34330 Istanbul Turkey
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