As stated by the IFC, the proposed project aims to provide financing of up to US$125 million from IFC’s own account to Yapi Kredi through an investment in the Bank’s Diversified Payment Rights notes. The proceeds of IFC’s investment will enable the Bank to continue supporting Micro, Small, and Medium Enterprises (MSME) in Türkiye, with a portion earmarked for women-owned MSMEs and a portion for climate finance for MSMEs.
The IFC categorized the project as FI-2.
As stated by the IFC, YKB is a privately-owned Turkish bank and the 4th largest private bank in the country as of June 30, 2023. The Bank offers individual banking, SME banking, corporate and commercial banking, credit card, and private banking services. YKB is also involved in other financial services such as asset management, leasing, factoring, private pension funds, insurance, equity brokerage, and investment banking. The Bank operates through a network of 800 branches spanning across 70 cities in Türkiye.
YKB is majority-owned by Koç Group (61%). The remaining 39% of the shares are listed on Borsa Istanbul (Türkiye’s sole stock exchange). Founded in 1926, Koç Group is one of the largest business groups in Türkiye and across Europe. It is among Türkiye’s largest industrial and services group in terms of revenues (equal to ~ 9 % of Türkiye’s GDP), exports (7% of Türkiye’s exports), number of employees, and market capitalization. Koç Group had a total asset size of TL 1,999 billion in the first half of 2023.
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Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Yapi ve Kredi Bankasi A.S.:
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