ABank obtained a syndication loan worth $225 million with the participation of 18 banks from 12 countries. The banking and finance circles interpreted the loan as a display of trust both in ABank and in the bank's principal shareholder The Commercial Bank (Q.S.C.), as well as in the Turkish banking industry.
ABank strives to become the first choice solution partner for clients as part of its “focused banking” vision. The bank obtained a syndication loan worth $225 million with a one-year maturity. The loan was obtained in two different currencies: $110 million and €103.75 million with the terms of L+1.40% for the dollar and Euribor+1.30% for the euro currencies.
ABank CEO Müge Öner defined the loan as an expression of the trust put in both ABank and the Turkish banking industry, and stressed their determination to continue supporting the country's economic growth with the fund.
In a statement, Şakir Sömek, ABank Vice President, International Financial Institutions, explained that 18 banks from 12 countries participated in the loan. “The transaction involved a wide geographical span, acting as a testament to our Bank's strong corresponding relationships in different regions. Strong support by our principal share holder The Commercial Bank (Q.S.C.) is evident with the 28% participation in the transaction from the Gulf Region. We intend to strengthen our current relationships with creditor banks, which are made up of our main corresponding banks. Our Bank enjoys a sound overseas borrowing position in the peer banks group, and in the second half of the year, we will continue to borrow, preferably in the long term, through foreign trade funds and one-on-one funding sources.”