İşbank Group unveils new company to consolidate subsidiaries
Throughout the first century of our Republic, which is celebrating its 100th anniversary, İşbank Group has adeptly carried out its mission by establishing and actively participating in diverse companies across sectors, and now, in a bid to optimize subsidiary management, the Bank will consolidate these subsidiaries under a new entity wholly owned by İşbank.
The new structure aims to transition towards a more focused and strategic management approach, necessitated by the rapid global and local changes across nearly every domain, fostering a systematic response. Furthermore, the objective includes heightening synergy among subsidiaries, achieving full-time and dynamic management with 100% concentration, propelling competitive performance to amplify subsidiary portfolio value, and optimizing profits through enhanced efficiency.
Contributing to various domains of the economy not only through its banking activities but also by leveraging its subsidiaries in line with its founding mission, İşbank, through its new company, will persist in strategic investments, expanding into novel sectors to further bolster the national economy.
A strong supplementary sphere will emerge through this restructuring, which will serve to enrich and optimize the subsidiary portfolio, improving İşbank's return on equity and market value.
The upcoming reorganization will not affect the Bank's capital, finances, or shareholding structure since it will be carried out via facilitated partial demerger through affiliate model.
Having started with the authorization granted by the Bank's Board of Directors, the process is anticipated to conclude by year-end following the acquisition of the necessary approvals and permits.
The webcast on the Partial Demerger decision announcement on August 28th 2023 is available on the link below.
28 August 2023 İşbank Partial Demerger Webcast
25.08.2023