Summary of Proposed Investment
Project Number
7433
Company Name
BIRLESIK FON BANKASI ANONIM SIRKETI
Date SPI Disclosed
Mar 13, 1996
Country
Turkiye
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : May 21, 1996
Signed : Oct 16, 1996
Invested : Dec 23, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-DEMIRBANK Capital Investments Financing Facility |
| Region | Europe |
| Sector |
Projected Board DateApril 15, 1996
Company NameDEMIRBANK
Technical Partner and/or Major Shareholders
Cingilli Holding A.S., a leading Turkish financial services group controlled by the Cingillioglu family.
Project Cost Including proposed IFC investment
US$30 million, of which US$15 million will be for IFC’s own account and US$15 million will be provided in the form of an IFC “B” Loan by FMO N.V. of the Netherlands.
Location of project and Description of site
Istanbul, Turkey
Description of Company and Purpose of Project
DEMIRBANK is a medium-sized commercial bank, wholly owned by the Cingillioglu family. As of December 31, 1995, the bank had total assets of US$843 million equivalent and shareholders’ equity of US$118 million equivalent. The proceeds of the proposed financing package will be on-lent by the bank to Turkish private sector companies for financing modernization and expansion programs.
Environmental Category and Issues
This is an environmental review category FI project. For relevant operations, DEMIRBANK will undertake an environmental review of each subproject.
| Date SPI sent to PIC | March 13, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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