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ISTANBUL - Turkiye Garanti Bankasi (IS:GARAN) A.S. (IST:TGBD), one of Turkey’s largest private banks, has announced a significant capital increase for its subsidiary, Garanti Finansal Kiralama A.Ş. The decision was made during the bank’s Board of Directors’ meeting on Sunday, where it was resolved to contribute TRY 6 billion (approximately $6 billion) to the subsidiary’s capital.
This move is part of the bank’s strategy to strengthen its subsidiary’s financial position and support its operations. Garanti Finansal Kiralama A.Ş. operates in the financial leasing sector, providing a range of services to corporate and commercial clients.
The bank has authorized its Head Office to carry out all necessary actions to complete the capital increase process. This capital injection is expected to bolster the subsidiary’s ability to offer competitive services and expand its business activities.
The announcement, made today, underscores the bank’s commitment to ensuring the financial robustness of its operations and subsidiaries. Garanti Bankasi’s decision aligns with the principles outlined in the Board’s Communiqué, Serial II Nr.15.1, and reflects accurate and compliant information as per the bank’s records.
Investors and stakeholders have been informed of this development, which may have implications for the bank’s financial performance and the value proposition of its subsidiary. The capital increase is a strategic measure to reinforce Garanti Finansal Kiralama A.Ş.’s market position in financial leasing.
This information is based on a press release statement from Garanti BBVA (BME:BBVA). The bank has emphasized that in the event of any discrepancies between the Turkish and English versions of the public disclosure, the Turkish version shall prevail.
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