TMSF puts Turkish Trade Bank up for sale

The Savings Deposit Insurance Fund (TMSF) has put 10.7 billion shares of Türk Ticaret Bankası AŞ, currently owned by TMSF at a rate of 98.4 percent, up for sale through a tender. According to the announcement published in today’s Official Gazette, the tender, the reserve price of which was determined as 380 million TL, will be held on March 21st by the sealed bid method. Bids can be submitted until March 20th for Türk Ticaret Bankası AŞ, which consists of a total of 10.9 billion shares and was granted an operating permit by the Banking Regulation and Supervision Agency (BDDK) on November 4, 2021. AŞ companies that have the qualifications sought in bank founders can participate in the tender. Participants must not be in bankruptcy, postponement of bankruptcy, composition or liquidation.