Turkey Wealth Fund (TVF) took action again to increase the core capital of public banks by 20 billion liras.
It has been learned that while the Turkey Wealth Fund (TVF) is taking action again to increase the core capital of public banks, Ziraat Bank, Vakıfbank and Halkbank will increase their capital by more than 20 billion liras each.
TVF took part in the process of increasing the capital of 3 big public banks by 48.6 billion liras in total in February. As a result of the said transaction, the partnership share of TVF, which holds all the shares of Ziraat Bank, increased to 87.7 percent in Halkbank and 64.8 percent in Vakıfbank.
According to the information obtained, TVF, which has taken action once again, will this time carry out capital increase transactions of more than 20 billion liras for each of the 3 big public banks. In May 2020, TVF also carried out the process of increasing the capital of the 3 big public banks by 21 billion liras in total.
According to the information obtained, a loan volume of up to 8 times the capital increase in public banks can be created, which means 160 billion lira new credit creation for each bank.