Memorandum of Understanding and loan agreements
were signed between İşbank and European Bank for
Reconstruction and Development (EBRD) to provide
financing to various fields of the economy.
-- A memorandum of Understanding with respect to funds
amounting to EUR 150 million in total, which is planned to be
obtained within 2013, 2014, 2015 and
-- loan agreements with a total amount of EUR 50 million under
Memorandum of Understanding, with a final maturity of 7
years were signed between İşbank and the EBRD on May 9
th
,
2013.
Of the EUR 50 million resource the following tranches were
obtained for financing of the following areas:
-- EUR 25 million is to be used for financing of SMEs owned or
managed by women entrepreneurs within the framework
of the Woman Entrepreneurs Support Program (Women in
Business – “WiB”),
-- EUR 15 million is to be used for financing of the activities
in the field of renewable energy and activities aimed at
effective and efficient use of energy within the scope of the
Turkey Sustainable Energy Financing Facility (TurSEFF),
-- EUR 10 million is to be used for financing agricultural loans
that will be directed to Turkey’s development priority regions
within the framework of Turkey Agriculture Financing Facility
(TurAFF).
Individual loan agreements to provide financing to
small enterprises were signed between İşbank and
Kreditanstalt für Wiederaufbau (KfW) in 2013.
A framework agreement was signed between İşbank and KfW
Entwicklungsbank within the context of SELP II in December
2008. Under the framework agreement, a new fund with a
total amount of EUR 17.64 million and a maximummaturity of 4
years, was obtained in October 2013 to finance SMEs.
A loan agreement with an amount of EUR 150million was
signed between İşbank and the European Investment
Bank (EIB).
A loan agreement with an amount of EUR 150 million and a
maximum final maturity of 8 years was signed between İşbank
and the EIB in December 2013 to finance the small and medium
size enterprises which meet the criteria determined by the EIB.
With respect to the agreement, which represents the fourth
mutual cooperation with the EIB, a part of the fund will be used
for the financing of enterprises which have environmental
and social responsibility policies in place or for the financing
of social responsibility projects such as energy efficiency, the
environment, protection from natural disasters, improvement of
health and work conditions of such enterprises.
Cross-Border Banking Activities
İşbank continued to expand its international service
network in 2013.
İşbank incorporated its cross-border organization into the
sustainable profitable growth strategy it adopted domestically,
and continued to expand its international service network.
Taşkınkoy Branch, as the 15
th
branch of İşbank in the T.R.N.C.,
began its operations in 2013, enhancing İşbank’s position
of having the widest branch network on the Island. İşbank
continued its activities to open new branches in the cities of
Duhok in Iraq, Tbilisi in Georgia, Prizren in Kosovo and London in
the UK in 2013.
As part of its vision to sustain its position as a regional financial
power, İşbank especially focused on the markets that have
intensive economic and commercial relationships with Turkey,
with a special emphasis on those located in the nearby regions.
The Bank aims to present high quality service to its customers
with its broad and established experience, especially in
regions where Turkish companies are operating. Accordingly,
investigation studies have been carried out in Azerbaijan,
the Balkans, the Caucasus, Central Asia and the Middle East
markets.
In brief
The second Eurobond issue
as a subordinated loan,
amounting to USD 400 million,
was completed.
A loan agreement in the
amount of EUR 150 million
with a maximum final maturity
of 8 years was signed to
finance small and medium
enterprises.
Through the EBRD’s WiB,
TurSEFF and TurAFF credit
programs, new funding
agreements were made.
Activities
49
İşbank
Annual Report 2013
