Summary of Proposed Investment
Project Number
7463
Company Name
BIRLESIK TURK KORFEZ BANKASI A S
Date SPI Disclosed
Mar 18, 1996
Country
Turkiye
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jul 18, 1996
Signed : Feb 28, 1997
Invested : May 1, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-KORFEZBANK Capital Investments Financing Facility |
| Region | Europe |
| Sector |
Projected Board DateMay 15, 1996
Company NameKORFEZBANK
Technical Partner and/or Major Shareholders
Dogus Group, a Turkish conglomerate, and Qatari investors consisting of members of the Qatari royal family and the related Al-Ahli Bank.
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. the Netherlands.
Location of project and Description of site
Istanbul, Turkey
Description of Company and Purpose of Project
KORFEZBANK is a medium-sized wholesale commercial bank. As of December 31, 1995, the bank had total assets of US$693 million equivalent and shareholders’ equity of US$103 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, KORFEZBANK will undertake an environmental review of each subproject.
| Date SPI sent to PIC | March 18, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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