Turkey's Akbank gets regulatory nod for 1.0 bln euro covered bond issue

The bank made the announcement in a filing with Borsa Istanbul.

Akbank will issue the covered bonds in international markets, Turkey’s capital markets regulator said in its weekly bulletin released on Tuesday.

Akbank is one of the largest private banks in Turkey with consolidated total assets of 215 billion lira as at the end of September 30. It is 48.9%-owned by local conglomerate Sabanci Holding and its affiliates, 9.9% by Citigroup and the remaining 41.2% of the bank’s stock is listed on Borsa Istanbul.

($ = 0.801 euro)