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Turkish savings fund exercises rights over 99.99% stake in bank

Photo: Ekonomim

Latest in the series Erdin Ozel and Emir Munir Sarpyener arrested in fund probe

The Savings Deposit Insurance Fund (TMSF) decided to exercise shareholder rights, excluding dividends, attached to Destek Finans Faktoring's 99.99% stake in Destek Yatırım Bankası. The company's board members and general manager were dismissed.

The decision was taken by the Fund Board on 1 October upon notification by the banking regulator BDDK. The chairman, board members and general manager of Destek Yatırım Bankası were dismissed. The shares belong to a company controlled by qualified shareholder Altunç Kumova.

Turkish savings fund exercises rights over 99.99% stake in bank

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Source spectrum State State Conservative Conservative Independent Indep. Opposition Opp. Foreign Foreign
Anadolu AjansıFirst to publish the story1 Oct, 20:22 TMSF, Destek Finans Faktoring'in yüzde 99,99 oranındaki paylarına ilişkin ortaklık haklarını kullanacak Haber72 articles · 2nd to publish the story1 Oct, 20:24 TMSF'den Destek Finans Faktoring kararı Türkiye Gazetesi4th to publish the story1 Oct, 20:26 Destek Yatırım Bankası'nda yeni dönem Ekonomim3rd to publish the story1 Oct, 20:25 TMSF, Destek Yatırım Bankası'nın yönetimini devraldı PSM5th to publish the story1 Oct, 20:36 TMSF'den Destek Finans Faktoring açıklaması Gazete Oksijen6th to publish the story1 Oct, 21:50 TMSF, Destek Yatırım Bankası yönetimini değiştirdi +2 PSM · 5th to publish the story Gazete Oksijen · 6th to publish the story

Fund Investigation News Series

Where it began Tera Portföy declares default in two funds, payment periods extended in six funds

  1. Erdin Ozel and Emir Munir Sarpyener arrested in fund probe Tera Portfolio Board Chairman Erdin Ozel and Tera Investment CEO Emir Munir Sarpyener were arrested in the fund investigation. The number of arrested suspects in the probe rose to 58.
  2. Treasury bonds in Tera funds put up for sale Treasury bonds in Tera Portföy funds are being put up for sale under the liquidation decision of the Capital Markets Board (SPK).
  3. Şimşek: troubled portfolio managers and funds quarantined Turkish Treasury and Finance Minister Mehmet Şimşek said troubled portfolio management companies and related funds had been quarantined, and a liquidation and resolution process had begun.
  4. Turkish savings fund exercises rights over 99.99% stake in bank The Savings Deposit Insurance Fund (TMSF) decided to exercise shareholder rights, excluding dividends, attached to Destek Finans Faktoring's 99.99% stake in Destek Yatırım Bankası. The company's board members and general manager were dismissed.
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