The proposed project comprises an IFC investment of up to US$100 million in the inaugural issuance of DNNs with five-year maturity of Türkiye Is Bankasi A.S. (Isbank or the Bank), an existing IFC client and the largest private bank and the third largest bank in Türkiye to increase access to finance for small business and retail segments in the eleven provinces impacted from the February 2023 earthquake in Türkiye (Earthquake Region). Such MSEs in the Isbank’s portfolio are mostly involved in agriculture, food production, transportation, and services.

The Project will include an unfunded credit insurance of up to US$50 million under Managed Co-Lending Portfolio Program (“MCPP”) FIG III, resulting in IFC net exposure of up to $50 million under the new mobilization guidelines.

As stated by the IFC, the Project comprises an IFC investment of up to US$100 million with a five-year maturity in the inaugural issuance of DNNs of Isbank. The Project will include an unfunded credit insurance of up to US$50 million under MCPP FIG III, resulting in IFC net exposure of up to US$50 million under IFC’s mobilization guidelines. 

As stated by the IFC, Isbank Personnel Supplementary Pension Fund is the largest shareholder with 38.59 percent of the Bank’s shares. The Pension Fund is a separate legal entity from the Bank and is organized as a private Turkish “foundation” under the Turkish Civil Law, operating within the Turkish Regulations of Foundations. All active and retired employees of the Bank are members of the Pension Fund. The aim of the Pension Fund is to provide pensions to the Bank’s employees when they retire and to provide both employees and pensioners with various social benefits. 33.32 percent of Isbank’s shares are on free float and listed on Istanbul Stock Exchange. Additionally, Isbank’s depository receipts are traded on over-the-counter markets in the U.S. as ADR and on London Stock Exchange as GDR. The remaining 28.09 percent of Isbank’s shares are Atatürk shares. Ataturk shares are represented by a political party, namely The Republican People’s Party (CHP) under the will of Atatürk. Isbank is subject to regulation and supervision under Turkish capital markets legislation and banking legislation applicable to all banking institutions.

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 - Türkiye Is Bankasi A.S.:

Serhan Sisman - Unit Manager
Phone: +90 212 316 28 24
Email: Serhan.Sisman@isbank.com.tr
Address: Head Office Financial Institutions Division, Is Kuleleri Kule 1, Kat, 25, 34330 Levent, Besiktas, Istanbul, Türkiye
Website: https://www.isbank.com.tr/ 

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