Explanation of Mr. Mehmet Göçmen, the CEO of Sabancı Holding, about the capital increase of Akbank
The capital increase of Akbank, in which we hold 40.75 percent as the Sabancı Group, is an indicator of our confidence in the growth of the Turkish economy and in Akbank, which is the most powerful element of our strategic portfolio. As announced to the public on various occasions, in line with the corporate transparency principle, the capital adequacy ratio of Akbank is far better than the legally determined level. With the resolution for a capital increase, it is planned to contribute to the sustainable profitability of our Bank on one side, and enhance the resistance of its strong financial structure to global fluctuations on the other. In this way, the competitive advantage of our Bank will be further strengthened. Just like our previous resolutions on capital, we believe that this resolution will also accelerate the value created for our stakeholders. As the Sabancı Group, we are all the time working for the strong Turkey of the future and regard participation in the capital increase of Akbank as a precise and long-term investment, both for our country and for our Group.