Management and Partnership Rights of Five Companies Transferred to SDIF by BRSA Decision
The Banking Regulation and Supervision Agency transferred the management of three investment banks and two factoring companies as part of a fund investigation.
The Banking Regulation and Supervision Agency has taken a significant decision within the scope of the fund investigation conducted regarding allegations of manipulative transactions on Borsa İstanbul. Accordingly, the management rights and partnership shares of three investment banks and two factoring companies were transferred to the Savings Deposit Insurance Fund.
BRSA Transfer Decisions
The Banking Regulation and Supervision Agency took administrative decisions regarding certain financial institutions following evaluations carried out within the scope of the fund investigation process.
In line with these decisions, the managements and partnership rights of the companies in question were placed under the control of the Savings Deposit Insurance Fund.
Transferred Banks and Companies
By the Board's decision, the managements of Tera Yatırım Bankası, Destek Yatırım Bankası, and Hedef Yatırım Bankası were transferred to the SDIF.
Additionally, Destek Finans Faktoring and Tera Finans Faktoring companies were included in the same scope.
Exercise of Partnership Rights
Partnership rights, excluding dividends, regarding the shares of Destek Yatırım Bankası and Destek Finans Faktoring began to be exercised by the SDIF.
Non-dividend rights in the shares held by the partners of Hedef Yatırım Bankası and Tera Yatırım Bankası were also transferred to the same institution.
Period Granted for Share Transfer
It was decided that certain shares within Destek Holding and Tera Finans Faktoring be transferred to real persons or legal entities meeting the appropriate conditions within six months.
It was reported that the voting rights of the shares subject to transfer will be exercised by the SDIF during this specified period.
Share Ratios in the Sector
It was announced that the share of the three banks mentioned in the process within the total assets of the banking sector is 0.22 percent.
It was noted that the share of the two factoring companies within the total assets of the factoring sector stands at 1.45 percent.
Background of the Investigation
It was stated that the ongoing investigation was launched upon reports of manipulative transactions being carried out in certain shares traded on the Borsa İstanbul Equity Market.
Within the scope of the judicial process conducted, numerous suspects had been detained and arrested.