Türkiye's largest lender Ziraat Bank on Friday announced it had successfully secured $930 million in long-term external financing through a securitization program based on remittance flows.
The transaction was carried out under its remittance flows-based securitization program (DPR) with international investors and eight global banks, according to a statement from the bank.
The financing includes maturities of five and 10 years. The program attracted strong demand from financial institutions in Europe, the United States, the Gulf region and Asia, the bank said, highlighting the transaction's cost as “low.”
"Our program continues to expand opportunities for external financing," said Treasury and Finance Minister Mehmet Şimşek.
"This long-term transaction, which garnered interest from investors across a broad geography, will facilitate credit access for our real sector," Şimşek wrote on social media platform X.
Ziraat Bank boasts an extensive domestic branch network and is present in 20 countries with 127 locations abroad.
The statement also noted that the bank's credit policies are aligned with Türkiye's economic program and macro-prudential regulations. It said its growing foreign trade market share and remittance volume have enabled the effective use of the external financing channel established through the DPR program.
Alpaslan Çakar, general manager of Ziraat Bank, described the transaction as a testament to international investors' confidence in the bank and Türkiye.
"In addition to providing credit with a focus on agriculture, exports, and investments, we have significantly increased our foreign trade market share and international remittance volume in recent years,” said Çakar.
“The long-term resources we have secured will simplify access to financing for the real sector and contribute to economic growth," he noted.
Çakar stressed the bank's commitment to strong collaborations with correspondent banks and international investors.
Ziraat Bank “will continue to implement its business model, which supports financial stability with innovative solutions, produces higher added value, and is based on sustainable growth."
