BAKU, Azerbaijan, November 29. The European Bank for Reconstruction and Development (EBRD) has committed $75 million to Garanti BBVA’s second Basel III-compliant Tier II bond issuance in 2024, TurkicWorld reports.
The funding will help strengthen the bank's capital position, support its growth strategy, and optimize its capital structure, in line with its funding diversification plans.
Garanti BBVA, Türkiye’s second-largest private bank, has been a long-time partner of the EBRD, contributing to many of the bank’s initiatives in the country. Since the EBRD’s operations began in Türkiye, Garanti BBVA has played a key role in supporting the Bank’s transition agenda and operational goals.
Oksana Yavorskaya, EBRD Deputy Head for Türkiye, highlighted the strong relationship with Garanti BBVA, emphasizing the potential for further strengthening the country’s financial sector.
Metin Kılıç, Head of ALM at Garanti BBVA, expressed appreciation for the EBRD’s involvement, noting the significance of the bond issuance and the positive outlook investors have towards both the bank and Türkiye.
The EBRD has invested over 21 billion euros in Türkiye across 461 projects and trade finance since 2009, with the majority of funds directed to the private sector.
