Oyak Bank A.S.

completed

Summary Of Project Information (SPI)Project NameTurkey-Oyak Bank, A.S.RegionEuropeSectorProject No007925Projected Board DateFebruary 10, 1997Company NameOyak Bank, A.S.Technical Partner and/or Major Shareholders Ordu Yardimlasma Kurumu (OYAK)Project Cost Including proposed IFC investment US$50 million, of which US$15 million will be for IFC’s own account and US$35 million will be for the account of participants in an IFC B Loan.Location of project and Description of site Istanbul, TurkeyDescription of Company and Purpose of Project Oyak Bank is a relatively small, well-capitalized bank with an excellent track record. It has a strong shareholder, experienced management, a sound portfolio and good financial performance. The proposed loan would be Oyak Bank’s first internationally syndicated term loan. The proceeds of the loan would be used to provide term finance to the bank’s corporate clients (at least 75% of the loan)and mortgage loans to its retail customers (up to 25% of the loan). The project would continue IFC’s efforts to support both the Turkish banking sector and private sector enterprises. Additionally the project would support new product development in the form of home mortgages.Environmental Category and Issues This is a category FI project according to IFC’s environmental review procedure. For relevant operations, the company will be required to implement an environmental risk management system.Date SPI sent to PIC January 8, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365