DOCSLIB.ORG

Offering Memorandum Dated October 26, 2012

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Offering Memorandum Dated October 26, 2012 IMPORTANT NOTICE THIS OFFERING IS AVAILABLE ONLY TO INVESTORS WHO ARE EITHER (1) QIBs (AS DEFINED BELOW) UNDER RULE 144A OR (2) NON-U.S. PERSONS (AS DEFINED BELOW) OUTSIDE OF THE UNITED STATES IMPORTANT: You must read the following before continuing. The following applies to the Offering Memorandum following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the Offering Memorandum. In accessing the Offering Memorandum, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from the Bank (as defined in the Offering Memorandum) as a result of such access. THE OFFERING MEMORANDUM IS NOT AN OFFER TO SELL SECURITIES AND THE BANK IS NOT SOLICITING OFFERS TO BUY SECURITIES IN ANY JURISDICTION WHERE SUCH OFFER OR SALE IS NOT PERMITTED. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE ‘‘SECURITIES ACT’’), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (‘‘U.S. PERSONS’’) AS DEFINED IN REGULATION S (‘‘REGULATION S’’) UNDER THE SECURITIES ACT, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES. THE FOLLOWING OFFERING MEMORANDUM MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER AND IN PARTICULAR MAY NOT BE FORWARDED TO ANY U.S. PERSON OR TO ANY U.S. ADDRESS. ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS DOCUMENT IN WHOLE OR IN PART IS UNAUTHORIZED. FAILURE TO COMPLY WITH THIS DIRECTIVE MAY RESULT IN A VIOLATION OF THE SECURITIES ACT OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS. IF YOU HAVE GAINED ACCESS TO THIS TRANSMISSION CONTRARY TO ANY OF THE FOREGOING RESTRICTIONS, YOU ARE NOT AUTHORIZED AND WILL NOT BE ABLE TO PURCHASE ANY OF THE SECURITIES DESCRIBED THEREIN. Confirmation of your Representation: In order to be eligible to view this Offering Memorandum or make an investment decision with respect to the securities described herein, investors must be either (1) qualified institutional buyers (‘‘QIBs’’) within the meaning of Rule 144A (‘‘Rule 144A’’) under the Securities Act or (2) non-U.S. Persons outside of the United States. This Offering Memorandum is being sent at your request and by accepting the e-mail and accessing this Offering Memorandum, you shall be deemed to have represented to the Bank and the Initial Purchasers (as defined below) that (1) you and any customers you represent are either (a) QIBs or (b) persons other than U.S. Persons outside of the United States, that the electronic mail address that you gave the Bank and to which this e-mail has been delivered is not located in the United States and that any purchase of the securities described in this Offering Memorandum by you would constitute an offshore transaction as defined in Regulation S and (2) you consent to delivery of such Offering Memorandum by electronic transmission. You are reminded that this Offering Memorandum has been delivered to you on the basis that you are a person into whose possession this Offering Memorandum may be lawfully delivered in accordance with the laws of the jurisdiction in which you are located and you may not, nor are you authorized to, deliver or disclose the contents of this Offering Memorandum to any other person. The materials relating to the offering do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the offering be made by a licensed broker or dealer and any of the Initial Purchasers or any affiliate of the Initial Purchasers is a licensed broker or dealer in the relevant jurisdiction, the offering shall be deemed to be made by such Initial Purchaser or such affiliate on behalf of the issuer in such jurisdiction. This Offering Memorandum has been sent to you in an electronic form. You are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently, none of Citigroup Global Markets Limited, Morgan Stanley & Co. International plc, Standard Chartered Bank or The Royal Bank of Scotland plc (as ‘‘Initial Purchasers’’), or the Bank nor any person who controls any of them, nor any director, officer, employee nor agent of any of them or affiliate of any such person accepts any liability or responsibility whatsoever in respect of any difference between the Offering Memorandum distributed to you in electronic format and the hard copy version available to you on request from any of the Initial Purchasers. You are responsible for protecting against viruses and other destructive items. Your use of this e-mail is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature. This Offering Memorandum is being distributed only to and directed only at (i) persons who are outside the United Kingdom, (ii) investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the ‘‘Financial Promotion Order’’), (iii) high net worth entities as defined in the Financial Promotion Order or (iv) those persons to whom it may otherwise lawfully be communicated falling within Article 49(2)(a) to (e) of the Financial Promotion Order or Article 43 of the Financial Promotion Order (all such persons together being referred to as ‘‘relevant persons’’). This Offering Memorandum is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this Offering Memorandum relates is available only to relevant persons and will be engaged in only with relevant persons. OFFERING MEMORANDUM FINANS BANK A.¸S. 26APR201119225981 a Turkish banking institution organized as a joint stock company US$350,000,000 5.15% Notes due 2017 Finans Bank A.¸S., a Turkish banking institution organized as a joint stock company (‘‘Finansbank’’, the ‘‘Bank’’ or the ‘‘Issuer’’), is issuing US$350,000,000 5.15% Notes due 2017 (the ‘‘Notes’’). The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘‘Securities Act’’), or the securities or ‘‘blue sky’’ laws of any state or other jurisdiction of the United States of America (‘‘United States ‘‘or ‘‘U.S.’’), the Republic of Turkey (‘‘Turkey’’), the United Kingdom or any other jurisdiction, and are being offered: (a) for sale in the United States to qualified institutional buyers (each a ‘‘QIB’’) as defined in, and in reliance upon, Rule 144A (‘‘Rule 144A’’) under the Securities Act (the ‘‘U.S. Offering’’) and (b) for sale outside the United States to persons other than U.S. persons (‘‘U.S. Persons’’) as defined in, and in reliance upon, Regulation S (‘‘Regulation S’’) under the Securities Act (the ‘‘International Offering’’ and, with the U.S. Offering, the ‘‘Offering’’). For a description of certain restrictions on sale and transfer of the Notes, see ‘‘Plan of Distribution’’, beginning on page 162, ‘‘Additional Selling Restrictions’’, beginning on page 164, and ‘‘Transfer Restrictions’’, beginning on page 165. As described further herein, the net proceeds of the Notes will be used by the Issuer for the Issuer’s general corporate purposes. Interest on the Notes will be paid on May 1 and November 1 in each year; provided, that, if any such date is not a Business Day (as defined herein), then such payment will be made on the next Business Day. Principal of the Notes is scheduled to be paid on November 1, 2017, but may be paid earlier under certain circumstances as further described herein. The Notes initially will be sold to investors at a price equal to 99.025% of the principal amount thereof. Application has been made to the Financial Services Authority (in its capacity as competent authority for the purposes of Part VI of the Financial Services and Markets Act 2000) (the ‘‘UK Listing Authority’’) for the Notes to be admitted to listing on the official list of the UK Listing Authority (the ‘‘Official List’’) and to the London Stock Exchange plc (the ‘‘London Stock Exchange’’) for such Notes to be admitted to trading on the London Stock Exchange’s Regulated Market (the ‘‘Market’’). References in this Offering Memorandum to the Notes being ‘‘listed’’ (and all related references) shall mean that the Notes have been admitted to listing on the Official List and have been admitted to trading on the Market. The Market is a regulated market for the purposes of Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments. Application has been made to the Capital Markets Board of Turkey (the ‘‘CMB’’) in its capacity as competent authority under Law No. 2499 of the Republic of Turkey relating to capital markets (the ‘‘Capital Markets Law’’) for the registration of the Notes with the CMB and the issuance of the Notes by the Bank outside Turkey.
Load more

Recommended publications
  • Financial Health
    About Our Value Our 2020 Material Financial Reaching Operational Data and The Best and Most Corporate Financial Reports Introduction Sustainability 100 Garanti BBVA Creation Issue: COVID-19 Health More Customers Excellence Technology Engaged Team Governance and Appendix 101 2020 PERFORMANCE IN STRATEGIC PRIORITIES AND OUTLOOK BURAK ALİ GÖÇER CEO - Garanti BBVA Pension FINANCIAL ELİF GÜVENEN Director - Corporate Brand Management HEALTH and Marketing Communication HÜLYA TÜRKMEN Director - Customer Experience and Satisfaction ZEYNEP ÖZER YILDIRIM Istanbul, Kozyatağı Commercial Branch Manager MAHMUT KAYA CEO - Garanti BBVA Asset Management Scan the QR code to watch the video. TRUST PIONEER SUSTAINABILITY RESPONSIBILTY EXPERIENCE TRANSPARENCY SUCCESS AGILITY EMPATHY DIGITALIZATION Garanti BBVA | Integrated Annual Report 2020 Garanti BBVA | Integrated Annual Report 2020 About Our Value Our 2020 Material Financial Introduction Sustainability 102 Garanti BBVA Creation Issue: COVID-19 Health Financial 7,307 37 min 12 customer Health Related Material Value Drivers Indicators 2019 2020 Topics OFFER OUR CUSTOMERS New and updated products, services and channels SOLUTIONS AND SUGGESTIONS that aim to support the customers in terms of 5 5 THAT CATER TO THEIR NEEDS SO managing their financials AS TO HELP THEM ATTAIN THEIR Customers informed about their financial positions 85% 92% GOALS Disabled-friendly Garanti BBVA ATMs 5,214 5,276 FINANCIAL ADVISORY TO OUR Customers that started using saving products 943,541 898,212 #3 BUSINESS CUSTOMERS TO HELP THEM
    [Show full text]
  • Finans Sektörü
    Skala Medya’nın iletişim bültenidir FINANS SEKTÖRÜ Skala Medya bu ay “finans” sektörünün 2017 yılındaki medya yatırım performansını mercek altına aldı. Bu raporda, pazarda yer alan markaların medya yatırımları ve tüketici tercihlerini etkileyen dinamikler yer alıyor. SON 3 YILDAKİ TOPLAM MEDYA YATIRIMI 2015 467.000.000₺ Medya yatırımları 2016 yılında bir önceki 2016 yıla göre %4 arterken; 2017'de %14 2017 486.000.000₺ artarak 565.000.000₺ oldu. 565.000.000₺ MEDYA YATIRIMLARINI EN FAZLA ARTTIRAN MARKALAR TEB 128% FİBA BANKA 92% Bir önceki yıla göre medya yatırımlarını QNB FİNANSBANK 56% en fazla arttıran marka Türkiye Ekonomi Bankası oldu. ZİRAAT BANKASI 46% Banka medya bütçesini %128 arttırdı. YAPI KREDİ BANKASI 46% HALKBANK 41% EN AKTİF MEDYA İLETİŞİMİ YAPAN 5 MARKANIN YATIRIM ORANLARI 20 20 20 20 20 20 20 20 20 20 20 20 ORT. ORT. ORT. ORT. ORT. 15 16 ORT. 15 16 15 16 15 16 15 16 15 16 9% 13% 17% 13% 15% 14% 11% 11% 13% 12% 12% 11% 11% 10% 10% 13% 11% 12% GARANTİ AKBANK HALKBANK QNB FİNANSBANK İŞ BANKASI DİĞER Son 2 yılda Garanti Bankası, Akbank ve Halkbank medya iletişimleri en yoğun olan markalardır. 01 MEDYA İLETİŞİMLERİNİN SEGMENT DAĞILIMI SON ÜÇ YILIN ORTALAMASI 2015-2016-2017 VERİLERİ 20 20 20 20 20 20 20 20 20 15 16 17 15 16 17 15 16 17 BİREYSEL İMAJ 61% 31% KURUMSAL 7% 6% 6% 58% 63% 62% 32% 31% 32% 10% BİREYSEL İMAJ KURUMSAL ALT SEGMENTLER 2015 2016 2017 ORT. BİREYSEL 58% 63% 62% 61% KREDİ KARTI 44% 36% 30% 36% BİREYSEL KREDİ 25% 24% 18% 22% Medya iletişimlerinin segment MOBİL BANKACILIK 7% 14% 20% 14% dağılımlarında bireysel yatırımlar VADELİ HESAP 11% 10% 16% 12% toplam iletişimin %61’ini BİREYSEL BANKACILIK 6% 9% 8% 8% oluşturmaktadır.
    [Show full text]
  • Base Prospectus
    BASE PROSPECTUS QNB FİNANSBANK A.Ș. US$5,000,000,000 Global Medium Term Note Programme Under this Global Medium Term Note Programme (the “Programme”), QNB Finansbank A.Ș., a banking institution organised as a joint stock company under the laws of the Republic of Turkey (“Turkey”) registered with the İstanbul Trade Registry under number 237525 (the “Bank” or the “Issuer”), may from time to time issue notes (the “Notes”) denominated in any currency agreed between the Issuer and the relevant Dealer(s) (as defined below) or investor(s). Notes may be issued in either bearer or registered form (respectively, “Bearer Notes” and “Registered Notes”); provided that the Notes may be offered and sold in the United States only in registered form except in certain transactions permitted by U.S. tax regulations. As of the time of each issuance of Notes, the maximum aggregate nominal amount of all Notes outstanding under the Programme will not exceed US$5,000,000,000 (or its equivalent in other currencies calculated as described in the Programme Agreement described herein), subject to increase as described herein. The Notes may be issued from time to time to: (a) one or more of the Dealers specified under “General Description of the Programme - The Programme” and any additional Dealer(s) appointed under the Programme from time to time by the Issuer (each a “Dealer”), which appointment may be for a specific issue or on an ongoing basis, and/or (b) one or more investor(s) purchasing Notes (or beneficial interests therein) directly from the Issuer. INVESTING IN THE NOTES INVOLVES RISKS.
    [Show full text]
  • Vulnerability Analysis of Turkish Banks Using Stress Testing and Internal Credit Rating Approach
    Journal of Economics, Finance and Accounting – JEFA (2020), Vol.7(2),p.103-119 Ghazavi, Bayraktar Tur VULNERABILITY ANALYSIS OF TURKISH BANKS USING STRESS TESTING AND INTERNAL CREDIT RATING APPROACH DOI: 10.17261/Pressacademia.2020.1207 JEFA- V.7-ISS.2-2020(4)-p.103-119 Masoud Ghazavi1, Sema Bayraktar Tur2 1Financial Specialist, Bank Mellat Headquarters, Tehran, Iran. [email protected] , ORCID: 0000-0002-3973-1076 2Istanbul Bilgi University, Department of Banking and Finance Istanbul, Turkey. [email protected], ORCID: 0000-0002-7564-4148 Date Received: April 2, 2020 Date Accepted: June 15, 2020 To cite this document Ghazavi, M., Tur, S.B,, (2020). Vulnerability analysis of Turkish banks using stress testing and internal credit rating approach. Journal of Economics, Finance and Accounting (JEFA), V.7(2), p.103-119. Permanent link to this document: http://doi.org/10.17261/Pressacademia.2020.1207 Copyright: Published by PressAcademia and limited licensed re-use rights only. ABSTRACT Purpose- This study examines the performance and financial vulnerability of twelve Turkish banks for 2019. Methodology - Stress testing identifies the impact of extreme expected and unexpected shocks to a bank’s capital, provides an assessment of its financial strength to withstand shocks and helps to spot emerging risk(s) and uncover weak spots in the financial institution. It enables banks in identifying their vulnerabilities at an early stage. In addition to stress testing, as for Internal Credit Rating (ICR), some financial ratios have been selected to assess the performance of each bank within banking industry. Findings- All banks in 2019 are within the standard classification of ICR rating except for Şekerbank.
    [Show full text]
  • (As Defined Below) Under Rule 144A Or (2) Non-U.S
    IMPORTANT NOTICE THIS OFFERING IS AVAILABLE ONLY TO INVESTORS WHO ARE EITHER (1) QIBS (AS DEFINED BELOW) UNDER RULE 144A OR (2) NON-U.S. PERSONS (AS DEFINED IN REGULATION S) OUTSIDE OF THE U.S. IMPORTANT: You must read the following before continuing. The following applies to the Preliminary Offering Memorandum following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the Preliminary Offering Memorandum. In accessing the Preliminary Offering Memorandum, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from the Bank as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE U.S. OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE U.S. OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S (“REGULATION S”) UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. THE FOLLOWING PRELIMINARY OFFERING MEMORANDUM MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER AND IN PARTICULAR MAY NOT BE FORWARDED TO ANY U.S.
    [Show full text]
  • Participation Banks 2019
    PARTICIPATION BANKS 2019 CONTENTS Bu PDF belge size daha rahat bir navigasyon imkanı sunmak için kodlanmıştır. İçindekilerde yer alan konu başlıklarına tıklayarak, üst menü navigasyonunu ve ileri‑geri oklarını kullanarak ilgili bölümlere ulaşabilirsiniz. Sayfa üstlerinde yer alan üç çizgiye tıklayarak içindekilere geri dönebilirsiniz. ESTABLISHED IN SECRETARY GENERAL E‑MAIL 2002 Osman AKYÜZ [email protected] MEMBERS AUDITORS WEBSITE Participation banks operating in Turkey Süleyman SAYGI‑İsmail GERÇEK www.tkbb.org.tr/en CHAIRMAN HEAD OFFICE Metin ÖZDEMİR Saray Mahallesi, Dr. Adnan Büyükdeniz Ziraat Katılım Bankası A.Ş. Caddesi Akofis Park C Blok No: 8 Kat: 8 BOARD MEMBERS 34768 Ümraniye/İstanbul Albaraka Türk Katılım Bankası A.Ş. Türkiye Emlak Katılım Bankası A.Ş. PHONE Kuveyt Türk Katılım Bankası A.Ş. +90 216 636 95 00 (PBX) Türkiye Finans Katılım Bankası A.Ş. Vakıf Katılım Bankası A.Ş. FAX Ziraat Katılım Bankası A.Ş. +90 216 636 95 49 PARTICIPATION BANKS 2019 1 INTRODUCTION 2 PARTICIPATION BANKS 2019 PARTICIPATION BANKS 2019 3 PARTICIPATION BANKS ASSOCIATION OF TURKEY IN BRIEF The Participation Banks Association of banking regulations, principles and Turkey (TKBB), headquartered in İstanbul rules, to work for the healthy growth of THE FOUNDATIONS OF and established in accordance with the the banking system and development THE TKBB, THE UMBRELLA Banking Act, is a professional public of the banking profession, increase ORGANIZATION OF THE institution of legal personality. competitiveness, ensure that necessary PARTICIPATION BANKS decisions are taken, implemented and OPERATING IN TURKEY, The foundations of the TKBB, demand to be implemented for the the umbrella organization of the creation of a competitive environment.
    [Show full text]
  • 2018 Activity Report
    MOST VALUABLE INVESTMENT IS TRUSTING FACES 2018 ACTIVITY REPORT 1 1 TABLE OF CONTENTS Foreword 05 GENERAL INFORMATION 1 Our Bank 07 About Us, Our Vision, Our Mission, Our Strategy 08-11 Capital, Partnership Structure, Shares of the Board Members & Amendments to the Articles of Association 13 Objectives of Nurolbank in 2018 15 Banking Services 16-17 Our Milestones 20-21 Financial Indicators 23 Rating of the Rating Agency 24-33 Sectoral Breakdown of Total Risks 35 Nurolbank’s Activities in 2018 and Its Position in the Sector 36 Key Financial Indicators & Performance Ratios 37 Our Opinions About the World and Turkish Economy 39 Message from Chairman of the Board 40-41 Message from General Manager 42-43 Global Economy 45-47 Turkish Economy 49-51 MANAGEMENT AND CORPORATE MANAGEMENT PRACTICES Yönetim ve Komitelerimiz 52-57 2 Board Members 58-63 Senior Management 64-66 Board Committees 68 Human Resources Practices 71 Corporate Management Codes of Conduct Practices 75 Information on the Bank’s Transactions with the Involved Risk Group Support in Accordance with the Bank’s Regulation on Receiving Support Services 75 FINANCIAL INFORMATION AND ASSESSMENTS ON RISK MANAGEMENT 3 Etik Kurallarımız 76-79 Audit Committee Report 81-83 Risk Management Policies Applied Depending on Risk Types 84-85 Independent Auditor’s Report on Annual Activity Report of the Board Ordinary General Assembly Agenda 86 NUROL INVESMENT BANK INCORPORATED COMPANY INDEPENDENT AUDITOR’S REPORT AS OF DECEMBER 4 31, 2018, CONSOLIDATED FINANCIAL STATEMENTS AND FOOTNOTES ABOUT FINANCIAL STATEMENTS 93 2 3 Most valuable investment is trusting faces Without doubt, finance is more than just the numbers.
    [Show full text]
  • As Defined in Regulation S) Outside of the U.S
    IMPORTANT NOTICE OFFERINGS UNDER THE PROGRAMME ARE AVAILABLE ONLY TO INVESTORS WHO ARE PERSONS OTHER THAN U.S. PERSONS (AS DEFINED IN REGULATION S) OUTSIDE OF THE U.S. IMPORTANT: You must read the following before continuing. The following applies to the Base Prospectus following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the Base Prospectus. In accessing the Base Prospectus, you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from the Bank as a result of such access. NOTHING IN THIS ELECTRONIC TRANSMISSION CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. SECURITIES OFFERED UNDER THE PROGRAMME HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OF THE U.S. OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE U.S. OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S (“REGULATION S”) UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. THE FOLLOWING BASE PROSPECTUS MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER AND IN PARTICULAR MAY NOT BE FORWARDED TO ANY U.S.
    [Show full text]
  • Transformation of the Turkish Financial Sector in the Aftermath of the 2001 Crisis
    Munich Personal RePEc Archive Transformation of the Turkish Financial Sector in the Aftermath of the 2001 Crisis Akin, Guzin Gulsun and Aysan, Ahmet Faruk and Yildiran, Levent Bogazici University, Department of Economics, Bogazici University, Center for Economics and Econometrics December 2008 Online at https://mpra.ub.uni-muenchen.de/17803/ MPRA Paper No. 17803, posted 12 Oct 2009 13:12 UTC Transformation of the Turkish Financial Sector in the Aftermath of the 2001 Crisis Abstract This paper attempts to delineate the evolution of the Turkish banking sector in the post- crisis era after 2001. The paper summarizes the events in the Turkish banking sector until the 2001 crisis. After that, a section focuses on the major regulatory changes. A detailed account of the consolidation and transformation of Turkish banks following the crisis is presented with reference to various structural indicators of the sector. Efficiency and foreign bank entry are examined in for the post-crisis period as well. Keywords: Turkish banking sector, post-crisis era after 2001, Efficiency, Foreign bank entry JEL classification: G21, G28, O16 G. Gulsun Akin Department of Economics, Bogazici University, Bebek, Istanbul, Turkey e-mail: [email protected] Ahmet Faruk Aysan Department of Economics, Bogazici University, Bebek, Istanbul, Turkey e-mail: [email protected] Levent Yildiran Department of Economics, Bogazici University, Bebek, Istanbul, Turkey e-mail: [email protected] 1 Transformation of the Turkish Financial Sector in the Aftermath of the 2001 Crisis G. Gülsün Akına, Ahmet Faruk Aysanb, Levent Yıldıranc 1. Introduction The Turkish financial sector has shown remarkable progress in the period following the 2001 crisis.
    [Show full text]
  • Investor Presentation 9M'16 Results
    Investor Presentation 9M’16 Results November, 20160 Executive summary Structurally attractive Turkish Economy Underpinning A Dynamic Banking Sector • Turkish market presents a strong opportunity among emerging markets thanks to large and growing economy energized by a highly attractive demographic profile • In this macro backdrop, banking sector has a promising future, with growth opportunities implied by current product and volume penetration figures, and a profitability higher than that of emerging market peers One of the Top Performing Banks in the Market • QNB Finansbank is one of the strongest players in this market with 5th ranking across most categories among privately owned banks • It has a very strong distribution network balanced between a branch footprint covering 99% of banking business in the market and best in market digital offerings • It has shown strong financial performance beyond its scale even in most volatile market conditions driven by differentiation, adaptability and right people brought together New Shareholder Opens a New Frontier to QNB Finansbank • Recent acquisition by QNB positions QNB Finansbank as the Turkish bank with the strongest shareholder • QNB is the largest player in Middle East and Africa by all critical measures and has the highest ratings among all banks with a presence in Turkey • Its presence across a wide geography overlaps well with Turkey’s key foreign trade partners bringing opportunities in this area • With the new shareholder, QNB Finansbank will add a new growth chapter in its successful
    [Show full text]
  • Banking Automation Bulletin | Media Pack 2021
    Banking Automation BULLETIN Media Pack 2021 Reaching and staying in touch with your commercial targets is more important than ever Curated news, opinions and intelligence on Editorial overview banking and cash automation, self-service and digital banking, cards and payments since 1979 Banking Automation Bulletin is a subscription newsletter Independent and authoritative insights from focused on key issues in banking and cash automation, industry experts, including proprietary global self-service and digital banking, cards and payments. research by RBR The Bulletin is published monthly by RBR and draws 4,000 named subscribers of digital and printed extensively on the firm’s proprietary industry research. editions with total, monthly readership of 12,000 The Bulletin is valued by its readership for providing independent and insightful news, opinions and 88% of readership are senior decision makers information on issues of core interest. representing more than 1,000 banks across 106 countries worldwide Regular topics covered by the Bulletin include: Strong social media presence through focused LinkedIn discussion group with 8,500+ members • Artificial intelligence and machine learning and Twitter @RBRLondon • Biometric authentication 12 issues per year with bonus distribution at key • Blockchain and cryptocurrency industry events around the world • Branch and digital transformation Unique opportunity to reach high-quality • Cash usage and automation readership via impactful adverts and advertorials • Deposit automation and recycling • Digital banking and payments Who should advertise? • Financial inclusion and accessibility • Fintech innovation Banking Automation Bulletin is a unique and powerful • IP video and behavioural analytics advertising medium for organisations providing • Logical, cyber and physical bank security solutions to retail banks.
    [Show full text]
  • Bankacilik Sektöründe Kamu Ve Özel Bankalarin Fġnansal Performanslarinin Karġilaġtirilmasi
    T.C. Hitit Üniversitesi Sosyal Bilimler Enstitüsü ĠĢletme Anabilim Dalı BANKACILIK SEKTÖRÜNDE KAMU VE ÖZEL BANKALARIN FĠNANSAL PERFORMANSLARININ KARġILAġTIRILMASI Merve GÜLEN Yüksek Lisans Tezi Çorum 2015 BANKACILIK SEKTÖRÜNDE KAMU VE ÖZEL BANKALARIN FĠNANSAL PERFORMANSLARININ KARġILAġTIRILMASI Merve GÜLEN Hitit Üniversitesi, Sosyal Bilimler Enstitüsü İşletme Anabilim Dalı Yüksek Lisans Tezi Tez Danışmanı Yrd. Doç. Dr. İlker SAKINÇ Çorum 2015 ÖZET GÜLEN, Merve, Bankacılık Sektöründeki Kamu ve Özel Sermayeli Bankaların Finansal Performanslarının Karşılaştırılması, Yüksek Lisans Tezi, Çorum, 2015. Bankacılık sektörünün, Türkiye’deki tarihine bakıldığında, iniş çıkışlarla dolu bir geçmiş söz konusudur. Dönem dönem yaşanan krizler, ülke ekonomisinin kaderinde aktif bir rol oynamıştır. Ekonominin kırılgan yapısını düzeltmek adına 2001 Krizi dönüm noktası olmuş ve Bankacılık Yeniden Yapılandırma Programı aktif bir şekilde uygulanmaya başlamıştır. Bu yapılandırmada en çok dikkati çeken sektör bankacılık olmuştur. Bankalar yeni düzen ve disiplin çerçevesinde düzenlenirken, yapılandırmanın çare olmayacağı birçok banka, birleştirilmiş ya da fona devredilmiştir. Bu çalışma ile kamu ve özel sermayeli mevduat bankalarının yapılandırma öncesindeki finansal performanslarını belirlemek, TMSF’ye devredilen bankalarda bu durumun ne kadar etkili olduğunu göstermek ve yapılandırma sonrasında finansal performanslarında olumlu bir gelişimin olup olmadığını göstermek amaçlanmıştır. Çalışmada, aktif büyüklükleri ve kuruluş yılları baz alınarak belirlenen kamu
    [Show full text]