Target Investment Bank Approval from BRSA

The Banking Regulation and Supervision Agency (BDDK) announced the decision regarding the establishment permission of Hedef Yatırım Bankası A.Ş. In the announcement made in the Official Gazette on April 30, 2022, it was stated that the BRSA gave establishment permission for Hedef Investment Bank. In the resolution text of the BRSA, it was announced that the founding capital of the investment bank was 500 million TL. The following statements were used in the decision published in the Official Gazette: “As a result of the examination of the letter dated 27.04.2022 and numbered E-20008792-101.01-43768 sent in the annex of the agenda letter of the Presidency of the Board dated 27.04.2022 and its annexes; Information and documents received within the scope of Article 4 of the Regulation on Transactions Subject to Permission and Indirect Shareholding of Banks and examination carried out within the scope of Articles 7 and 8 of the Banking Law No. As a result of the evaluation, in accordance with Article 6 of the Law, the founding partners Hedef Holding A.Ş., İnfo Yatırım Menkul Değerler A.Ş., Hedef Venture Capital Investment Trust Inc., Namık Kemal Gökalp and Sibel Gökalp paid 500 million TL in Turkey. It has been decided to allow the establishment of an investment bank with founding capital titled "Target Yatırım Bankası A.Ş."