Turkey’s Isbank to Raise Capital Using Extraordinary Reserves
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Turkiye Is Bankasi AS will more than double its paid-in capital to 10 billion liras ($724 million), funded using extraordinary reserves, according to a public filing by the Istanbul-based bank.
The lender known as Isbank will distribute bonus shares to stake holders as part of the process to raise its capital from the current level of 4.5 billion liras, according to the filing dated Feb. 25.