11/13/2017
Garanti Bank Signs a Loan Agreement of $ 250 Million with ICBC
Garanti Bank has signed a loan agreement of US$ 250 million with ICBC with a back-payment term of 3 years with the coordination of ICBC Turkey Bank Inc.
Garanti Bank Assistant General Manager Gökhan Erün: “We feel the happiness of having been in cooperation with ICBC, the largest bank in the world. It is a matter of pride for us to have undersigned a new cooperation agreement which will contribute to the economy of the country thanks to the trust and stability achieved by Garanti Bank in international finance circles.”
Garanti Bank has signed a loan agreement of US$ 250 million with the Industrial and Commercial Bank of China Limited (ICBC) with a back-payment term of 3 years with the coordination of ICBC Turkey Bank Inc. The ceremony regarding the loan in question is realized in Istanbul on November 10 with the participation of Garanti Bank Assistant General Manager Gökhan Erün and Financial Institutions Director Batuhan Tufan, ICBC Turkey’s Chairman of the Board Xu Keen and International Relations Assistant General Manager Halit Döver. The agreement is the first bilateral credit cooperation agreement signed by Garanti Bank with ICBC, and it is being reported that Garanti Bank will use the amount in overhead corporate activities and to finance foreign trade. Garanti Bank Assistant General Manager Gökhan Erün Garanti Bank Assistant General Manager Gökhan Erün giving information the matter, spoke as follows: “We feel the happiness of having been in cooperation with ICBC, the largest bank in the world, following the agreements we have realized with China Eximbank and Sinosure. It is a matter of pride for us to have undersigned a new cooperation agreement which will contribute to the economy of the country thanks to the trust and stability achieved by Garanti Bank in international finance circles. We will continue to enhance our cooperation with international banks to strengthen our relations and to provide more special solutions to our clients.” In return, ICBC Turkey’s Chairman of the Board Xu Keen noting that the transaction is an indicator of the trust of ICBC in the banking system in Turkey and in Garanti Bank, said that he believes the banking activities between the two banks will further develop in the future and will continue to create added value.
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