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Şekerbank boosts its capital base

12.12.2019

Şekerbank issued subordinated note in the amount of TRY 250 million

 

Şekerbank successfully issued its first Tier 1 note (Additional Tier 1 Capital) in the amount of TRY 250 million. Şekerbank’s first issue of Turkish Lira Overnight Reference Interest Rate-indexed (TLREF) Additional Tier 1 Capital note with nominal value of TRY 250 million which is recallable at the end of 5 years was offered to qualified domestic investors.

 

Undertaking a pioneering role in the financing of production for 66 years, the Bank diversifies its long-standing broad-based resource structure with its first Additional Tier 1 Capital note issue, while aiming to increase its support for the economy by further strengthening its equity base.

 

Şekerbank’s transformation program revamping its technological infrastructure and processes on an end-to-end basis is expected to propel its sustainable growth objectives with an upward momentum in the upcoming period, driven by this issue.