In the statement stated that the financing of the transaction will be covered by the cash to be obtained from the sales of the government domestic debt securities issued by the Ministry of Treasury and Finance to the banks at the market rate, as follows:
Public banks, which play a critical role in ensuring financial and economic stability with the said capital support, are expected to continue their growth strategies in the upcoming period as they become stronger against the effects of the Covid-19 outbreak on the economy and the fluctuations in the global market.
Turkey Wealth Funds (TVF) began to work for 21 billion Turkish Liras increase of Ziraat, Halk Bank and Vakıfbank's core capital. Currently, Turkey Wealth Funds which holds the majority stake in Halkbank and all of Ziraat Bank in Turkey, so it will be the shareholders to the Vakıfbank. Capital increase will be provided with money from the sale of government domestic debt securities to banks.
Turkey Assets Fund (TVF), T. C. Ziraat Bankasi AS, Turkey Turkey Foundations Bank and Halk Bankası TAO announced that total capital of 21 billion TL increased. In the statement made by TVF on the subject, in April 2019, the task of providing a total of 3.7 billion euros in additional capital support to public banks in line with the New Economy Program of the Treasury and Finance Ministry and in line with TVF's mission to support stability and depth in financial markets. Reminded that they undertook.
In this statement, it is stated that efforts have started to increase the core capital of the three state banks within the scope of 21 billion TL.
In the statement, it was stated that the financing of the transaction would be covered by the cash to be obtained from the sale of the government domestic debt securities issued by the Ministry of Treasury and Finance to the banks.