Türkiye Is Bankasi A.S. completed the acquisition of Moka Odeme Kurulusu A.S.
January 30, 2021
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Türkiye Is Bankasi A.S. (IBSE:ISCTR) agreed to acquire Moka Odeme Kurulusu A.S. for $3.8 million on July 27, 2020. Transaction will be completed after obtaining all the necessary legal permissions and fulfillment of standard "conditions precedent" stated in the agreement. Türkiye Is Bankasi A.S. Board decision date is July 27, 2020. In December, the approval process of Central Bank of the Republic of Turkey for share transfer was finalized.
Türkiye Is Bankasi A.S. (IBSE:ISCTR) completed the acquisition of Moka Odeme Kurulusu A.S. in January 2021.
Turkiye Is Bankasi AS is a Turkey-based banking institution. It operates under the following business segments: Corporate, Commercial, Retail and Private Banking, as well as Treasury/Investment Banking. Its Corporate and Commercial Banking segments provide services to large corporations, Small and Medium Enterprises (SMEs) and other trading companies, such as operating and investment loans, deposit and cash management, foreign trade transactions and financing, foreign currency trading and other banking services. Its Retail Banking services are comprised of individuals needs such as deposits, consumer loans, credit cards, foreign currency trading, insurance and other banking services. The Private Banking category is comprised of financial and cash management related services provided for individuals within the high-income segment. Treasury transactions are comprised of medium and long term funding tools. Its investments in associates and subsidiaries fall under Investment Banking.