Turkey’s Akbank will increase capital as bad loans expected to rise

  • 12/6/2018
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Akbank plans to increase its capital by 30 percent to 5.2 billion lira through a rights issue Akbank will receive 3 billion lira in proceeds from the issue, which is to be used to improve its capital base and solvency ratios ISTANBUL: Turkey’s Akbank plans to increase its capital by 30 percent to 5.2 billion lira ($966 million) through a rights issue, it said on Wednesday. Akbank will receive 3 billion lira ($558 million) in proceeds from the issue, which is to be used to improve its capital base and solvency ratios, the bank said in a stock exchange filing. “The bank has taken this decision to protect itself from the possible impact of the expected increase of NPLs in the upcoming period, due to the depreciation of lira and slowdown in economy,” said Bulent Sengonul, equity research manager at Is Investment

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