Yapi Kredi Bank - TuREEFF (EBRD-46108)

  • Europe and Central Asia
Where the impacts of the investment may be experienced.
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 5, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Climate and Environment
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.21 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 229
Converted using 2018-02-28 exchange rate.
Project Cost (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported USD 75 million.
Converted using 2018-02-28 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 28, 2019

Disclosed by Bank Feb 28, 2018

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Project Description

This project invests in a bond issued by Yapi ve Kred Bankasi AS, the fifth largest bank in Turkey, that uses residential mortgage loans as collateral. Proceeds from this investment will finance energy utilization investments, increase public awareness about sustainable energy in the residential sector, and assist households in Turkey in mitigating increasing energy prices and high energy intensity under the EBRD's Turkey Residential Energy Efficiency Financing Facility. 

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

Yapi ve Kred Bankasi AS is the fifth largest bank in Turkey with market share of 9.6 per cent by customer deposits.  Currently, Koc Financial Services A.S. (KFS) holds 81.8 per cent of YKB's outstanding shares, while the remaining 18.2 per cent are listed on Borsa Istanbul. KFS is a 50-50 Joint Venture between Turkish Koc Holdings and UniCredit Bank Austria, which is ultimately owned by UniCredit S.p.A.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Koc Financial Services A.S. Parent Company -

Contact Information

Tules Akinci, Head of Debt Capital Markets, Financial Institutions
+90 212 3397819
+90 212 3396060
Yapi ve Kredi Bankasi A.S. - Head Office Buyukdere Cad. Yapi Kredi Plaza D Block, Levent 34330

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.