Press Releases and Announcements
Alternatif Bank Increased Its Capital by TRY 307.7 Million
Alternatif Bank increased its capital by TRY 307.7 million in line with its long-term growth plans. Along with the capital injection which will be completed upon registration by the trade registry, the Bank’s paid-in capital exceeds to TRY 2 billion.
Regarding the capital increase, Alternatif Bank CEO Kaan Gür said “We have felt the impacts of conjunctural developments intensely in the recent years. As Alternatif Bank, we continue to take important steps to increase the support we offer to the economy in such periods. Capital increases provide us with significant contribution along with the transformation endeavors we carry out in this respect. We proceed in alignment with our long-term targets by adhering to the strategic plan we have designated with our shareholder Commercial Bank. Our strategic plans are based upon increasing our capital by USD 300 million in total until 2023, TRY 1 billion (USD 200 million) of which has already been completed since early 2018. The recent capital increase is an evidence of our shareholder’s strong commitment to our bank and to Turkish economy and is particularly important from a timing perspective, where the Covid-19 pandemic is impacting economies worldwide..
We will continue to offer our support for our customers without compromising from our asset quality and risk management with our “advisory and insightful banking” approach. As always, we will henceforth continue to accompany our customers on their journey with our customized and tailor-made products and solutions together with our subsidiaries, besides the loans we provide.”