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Turkey’s Ziraat Bank raises capital to 34.9 billion lira -Breaking

by Mike Robinson

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© Reuters.

ISTANBUL, Reuters – According to the footnotes to the annual financial report of Turkey’s Ziraat Bank, the capital will rise to 34.9 billion lira ($2.57 Billion). The amount to be paid is by the Turkey Wealth Fund.

According to the statements, 21.8 billion Lira will be paid by the wealth fund for capital increases.

Turkish state-owned Halkbank, and Vakifbank announced earlier this month that they would increase capital through private placement. The combined sales proceeds from these two banks were 26.8 billion lire. Shares will be sold to the Turkey Wealth Fund.

($1 = 13.6002 liras)

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