ŞEKERBANK TO INCREASE ITS REGISTERED CAPITAL BY 25 PERCENT.

After having changed its main shareholding structure with 33.98% held by Şekerbank T.A.Ş. Personnel Supplemental Social Security and Relief Fund and 33.98% by Bank Turan Alem (BTA) Group following the partnership agreement signed with BTA Group in March 2007, Şekerbank increases its capital from 400 million YTL to 500 million YTL as required by the provisions of the partnership agreement.

Meriç Uluşahin, General Manager of Şekerbank, said; “We will use the funds obtained through capital increase in financing of the small commercial and agricultural enterprises as set forth in our five-year business plan. We have branches even in regions where there are no other banks located. We aim to combine our particular strength in Anatolia with our substantial financial structure to become a leading bank in financing of small scale enterprises.”

Celebrated its 55th anniversary this year, Şekerbank had first increased its registered capital from 125 million YTL to 400 million YTL with the power it gained through this partnership agreement with Kazakhstan.

Having initiated the process of another capital increase in 2008 to raise the authorized capital from 400 million YTL to 500 million YTL, Meriç Uluşahin made the following statement about this capital increase; “Our increase of capital was previously planned as a part of the conditions of the agreement we made with BTA Group. This capital increase is also a part of our 2007-2010 growth and business plan that we prepared after going into this partnership. We have this strong motivation to become one of the first 10 private banks of Turkey by year 2010. For these purposes, we are now increasing our capital to 500 million YTL with a total increase of 100 million YTL.”