Summary of Proposed Investment
Project Number
8628
Company Name
ALTERNATIFBANK ANONIM SIRKETI
Date SPI Disclosed
Nov 25, 1997
Country
Turkiye
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Dec 31, 1997
Signed : Jul 3, 1998
Invested : Aug 21, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-Alternatifbank A.S. |
| Region | Europe |
Sector
Project No008628
Projected Board DateDecember 18, 1997
Company NameAlternatifbank A.S.
Technical Partner and/or Major Shareholders
Anadolu Group
Project Cost Including proposed IFC investment
| The project is to provide a US$40 million syndicated loan to Alternatifbank, of which US$15 million would be for IFC’s own account and US$25 million would be for the account of participants in an IFC B loan. |
Location of project and Description of site
Istanbul, Turkey
Description of Company and Purpose of Project
Alternatifbank A.S. is a relatively small and well-managed bank, with a niche in the medium sized enterprise sector. It has a strong shareholder, experienced management, a sound portfolio and good financial performance. The proposed loan would be Alternatifbank’s first internationally syndicated term loan. The proceeds of the loan would primarily be used to provide term finance to the bank’s corporate clients while a small portion would be used to provide leasing finance to small and medium enterprises (SMEs) through the Bank’s leasing subsidiary. The project would continue IFC’s efforts to support both the Turkish banking sector and SMEs.
Environmental Category and Issues
This is a category FI project according to IFC’s environmental review procedure. For relevant operations, the Bank will be required to implement an environmental risk management system.
| Date SPI sent to PIC | November 25, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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