VakıfBank

The shares of 12 companies held by the Treasury have been transferred to the Türkiye Wealth Fund (TVF), according to a presidential decree published in the Official Gazette on Aug. 20.

Among those companies whose shares were transferred are stock exchange-listed Koza Altın, Koza Anadolu Metal and İpek Doğal Enerji.

Türkiye Wealth Fund (TWF) has signed a $100 million Murabaha financing agreement with Sharjah Islamic Bank (SIB).

This three-year term agreement marks the first Islamic finance transaction for the TWF.

Doğan Investment Bank acted as the financial adviser and coordinator for the transaction, the fund said in a statement.

The top executives of the three Turkish state lenders - Ziraat, Halkbank and Vakıfbank - have pledged to grant loans to Turkish businesses in a bid to support economic development and increase prosperity.

General managers of Turkey's three state banks met with businesspeople in the northwestern province of Bursa on Feb. 3.

Kalyon Enerji, the developer of the largest solar facility in Turkey, on Nov. 30 signed a $812 million loan agreement with six Turkish banks, U.S. lender JPMorgan Chase & Co and U.K. Export Finance (UKEF).

Banks operating in Turkey have been obliged to submit a new long-term credit strategy plan and establish a separate unit to oversee it, according to a revised banking regulation published in the Official Gazette yesterday.

Following Turkish state lenders' step to gather automated teller machines (ATMs) under a joint brand, a private lender has struck deals with two major private banks to offer expanded ATM services to its customers.

VakıfBank, a Turkish state lender, obtained banking license in Qatar, it announced on May 18.
VakıfBank became the first Turkish bank to get the license in Qatar, the bank said in a press release.
The bank plans to launch its operations in Qatar after the coronavirus pandemic, said Abdi Serdar Üstünsalih, the bank's general manager.

The Turkish Wealth Fund (TWF) announced late on May 11 that it will raise the core capital of three state lenders.

"To strengthen capital structures and support the adequacy of Ziraat Bank, Halkbank and VakıfBank, we have launched the necessary works to raise core capitals by a total of 21 billion Turkish liras [some $3 billion]," the TWF said in a statement.

Turkish state lenders announced a financial support package on March 25in line with the government measures to limit the economic fallout from the coronavirus pandemic.

Three conventional banks - Ziraat, Halk, Vakıf - and two participation lenders - Ziraat Katılım and Vakıf Katılım - made public their package applicable for all enterprises.

President Recep Tayyip Erdoğan has said he disapproves of plans regarding a unit of state-owned lender Ziraat buying a stake in bakery chain Simit Sarayı and that this plan has been dropped.