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The European Bank for Reconstruction and Development (EBRD) is investing $25 million in ING Türkiye’s first ever Basel III compliant Tier II (B3T2) bond issuance. This is also EBRD’s first B3T2 investment in the country.
The financing will be used to strengthen ING Türkiye’s already strong Tier II capital position, bolster its future growth prospects, and optimise its capital structure, contributing to the funding diversification strategy of ING Türkiye.
ING Türkiye is an existing partner of the Bank, and operates in retail, Mid-Corporate, SME and wholesale banking segments. ING Türkiye is a member of the Netherlands based ING Group, a globally significant financial group.
In November 2023, the EBRD launched a strategic partnership with ING Group by providing a €100 million financing package, accompanied by US$ 5 million in funding from the Clean Technology Fund (CTF), to boost financing opportunities for green investments and women-led small and medium-sized enterprises (SMEs).
Francis Malige, the EBRD’s Managing Director for Financial Institutions said: "We take great pride in the strong start we have achieved with ING Türkiye, reflected in our first B3T2 investment in the country. I am confident that our partnership carries a lot of potential to boost the strength and resilience of the financial sector in the country.”
The EBRD is among Türkiye’s key investors, with more than €20 billion invested through 451 projects and trade finance limits since 2009, most of it in the private sector. |
