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    Demirbank - Zukunftsaktie mit gigantischen Potential - (4) (Seite 216)

    eröffnet am 05.03.01 08:53:38 von
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      schrieb am 11.07.01 10:48:46
      Beitrag Nr. 136 ()
      www.turkischdailnews.com vom 11.07.2001


      Turkey bails out five insolvent banks, closes two others
      EGSBANK tarisbank SITEBANK KENTBANK bayindirbank

      Turkey yesterday said it has seized five small banks and shut down two others in an effort to comply with International Monetary Fund requirements, as the latter was expected to call a board meeting to release the next tranche of Turkey`s loan.

      Turkey`s banking watchdog yesterday said Bayindirbank, EGS Bank, Kentbank, Tarisbank and Sitebank were transferred to the Turkish Savings Deposit Insurance Fund (TMSF) and investment banks Okan Yatirim Bankasi and Atlas Yatirim Bankasi were closed due to insolvency.

      In a statement the Banking Supervision and Regulation Agency (BDDK) said deposits and liabilities of the five banks seized yesterday remain subject to state guarantee.

      The watchdog said the five banks were bailed out in line with paragraphs three and four of Article 14 of the Banks` Act, i.e. due to a failure of taking the measures stated in the law, connected party lending to an extent that endangers the operation of the bank, losses exceeding their equities and eventual insolvency.

      The license of Okan Yatirim Bankasi was withdrawn because the bank failed to take the necessary measures despite warnings and to meet its liabilities. Further, the value of the bank`s total liabilities has exceeded the value of its assets.

      Atlas Yatirim Bankasi was closed because of the weaknesses in the financial structure of its main shareholder, its liabilities have exceeded the value of its assets and endangered the operation of the bank through connected party lending.

      Bank rehabilitation is the centerpiece of Turkey`s economic program and multi-billion loan deals with international lenders. In explaining the delay on Turkey`s next credit tranche, the IMF has said Turkey should speed up action in the banking area, as well as resolving issues related to the state telephone company Turk Telekom board.

      After the latest move the TMSF has thus taken control of 18 out of the some 80 banks in Turkey.

      Of the seven banks mentioned above, Kentbank and Atlas Yatirim Bankasi were owned by construction group Suzer Holding, Bayindirbank by Kamuran Cortuk`s Bayindir Holding and Banca Turco Romano, EGS by the Aegean-based textile group EGS Holding. Taris unions were the main shareholders in Tarisbank and Site Turizm in Sitebank. Okan Yatirim was owned by the Okan Group.

      Bailout cost seen at TL 3-3.5 quadrillion
      The cost of bailing out the five banks amounts to some TL 3-3.5 quadrillion including approximately TL 1 quadrillion loss and another TL 2.5 quadrillion injection needed for deposits, BDDK head Engin Akcakoca told cable news network CNN Turk television yesterday.

      Commenting on the move Akcakoca said it was a surprise neither to the banking watchdog nor to the banks` owners. Asked whether the operation was late, he said the banking watchdog has granted time to the banks` shareholders to improve their financial structure raising capital or new partners.

      "The IMF didn`t approve of these efforts taking too long," Akcakoca told CNN Turk. "It wasn`t an imposition but joint action."

      The banking regulator said the IMF appeared tough on bank the operation, although the Turkish authorities tended to give several weeks` time now that parliament has passed a legislation allowing tax favors in bank mergers.

      "I think, if we were to give that opportunity, a less costly solution could be devised. It`s not for certain but it could have been tried," Akcakoca said.

      He went on to say that the TMSF would try to rehabilitate the banks through its own resources in the first place, with a view to avoid putting extra burden on the Treasury.

      Demirbank, Sumerbank sales seen completed by next weekend
      The head of the banking watchdog continued saying that the sale of two other TMSF banks, i.e. Demirbank and Sumerbank, would be completed by next weekend.

      In its standby deal with the IMF Turkey has pledged to sell or liquidate all banks controlled by TMSF by the end of 2001.

      Four groups have submitted bids to buy Demirbank, including the Aydin Dogan Consortium, the Turkish Armed Forces Assistance Fund (OYAK), UniCredito Italiano Spa, and HSBC Bank.

      OYAK has also submitted a bid to buy Sumerbank.

      Akcakoca predicted that mergers and acquisitions in the banking sector would gain significant momentum. He added that by taking over these five banks and closing two, Turkey has fulfilled its pledges to the IMF, therefore the board should convene and release the next credit tranche.

      Ankara - Turkish Daily News



      ECONOMIC AGENDA Zulfikar Dogan
      Seeing that everything was
      going to be done!
      Following the decision announced by IMF president Horst Koehler last week to postpone the IMF executive board meeting, the government has frequently called this position `unfair` and has constantly reiterated that Turkey has been doing what is asked of her.
      Prime Minister Bulent Ecevit and Deputy Prime Minister Devlet Bahceli have criticized what they see as IMF interference in the appointments of bureaucrats. They say they are fulfilling their pledges.
      However, the IMF did not go back on its decision to postpone and did not allow the disbursement of $1.5 billion in fresh loans. This caused the already practically non-existant confidence on the markets to take a fall. The Bourse bottomed out while both interest and foreign exchange rates hit the ceiling.
      No matter how much the Central Bank says that because the exchange rate is not fixed there is no exchange rate target, the "psychological barrier" of $1 equals TL 1.3 million should have been stuck to and should not have been exceeded.
      However, the lack of confidence was so overwhelming that this ceiling was exceeded. We once again saw foreign banks coming forwards as the "leading players". Because of both the uncertainty in the foreign exchange markets and the fact that nobody wanted to sell, it was just a couple of banks that determined the exchange rate with a $15-20 million volume of transactions. They determined the opening prices in the morning, they raised it and they sold it. We just looked on.
      Prime Minister Ecevit`s reply to the IMF, which was complaining about the high interest rates, was to the effect that the rates were high because of the floating exchange rate the IMF had imposed on Turkey. They had mislead the prime minister again.
      Even though the floating exchange rate because of the uncertainties in the foreign currency rates brings with it an element of risk, what is really important in confidence because when you look at it this way the increase in the exchange rate does not stem from a lack of foreign currency or a run on the dollar. The sole reason is lack of confidence, in other words the political will cannot inspire confidence.
      The political will showed once again that this lack of confidence was justified when it stood up and rejected the IMF`s requests.
      The government rejected the IMF`s criticisms of the appointments to the Turk Telekom board of directors but since held a leaders summit at which all the requests were met this time.
      In which case, why has it taken so long to reach a consensus over Turk Telekom`s board? What was so difficult?
      Seeing that everything the IMF listed as pretexts for postponement were actually going to be done in the end, why has some two-three weeks been wasted in this country? Interest rates rocketed to 98 percent and the dollar touched TL 1.3 million.
      More than all of this, the Treasury`s domestic debt burden multiplied. The risk taken by the Treasury in converting its domestic debts to foreign currency during the debt swap business has increased even more with the increase in the dollar exchange rates.
      Treasury`s large check
      In the end it reportedly cost the country`s economy and the country`s treasury a lot. And all because of resisting IMF demands regarding the appointments to the Turk Telekom board. Seeing that all these demands were going to be met in the end, why fight it?
      According to one calculation, the cost of this display of resistance cost the Treasury around $ 20 billion, yet the loan to be disbursed by the IMF was only $1.5 billion. Was it worth it?
      Indeed, Turk Telekom`s general board convened yesterday. The main contract was amended. The way was opened for two extra members to be appointed to the board. The banking Regulatory and Auditing Board (BDDK) took decisions regarding seven banks, including two investment banks in one night and announced them. Thus another five banks have been received by the Fund. The burden imposed on the economy by those banks already bailed out by the fund has cost the country some $23 billion. These five more will add an estimated $5 billion, while the burden of the bailed out banks has reached this figure, the $22 billion in duty losses from the public banks will see the total burden reach $50 billion or so.
      Does this amount of money grow on this country`s trees?
      As long as the prevailing atmosphere of political confidence lasts, the psychological mood remains unchanged and the idea that the government is not going to change its position prevails, even if this fantastic economic program were to be stuck to, it will not change a thing.
      The three-partner government should at last sit down and think. It should take a decision. it should announce what is going to be done when and how.
      Failing this and with all this pointless bickering and pathetic posturing we are all going to lose out in the end and there will be no future for either us or our country.
      What is to become of the five banks?
      The matter of Bayindir Bank, which is one of those bailed out by the Fund, is a diplomatic one in fact. By seizing Bayindirbank, which owns the BTR bank, one of the largest in Romania, the Turkish Republic has effectively given guarantees to savers in Romania.
      At the same time, as a result of the investigation President Sezer commissioned into Vakifbank last week, and when it is recalled that nine files were sent to the Prime Ministry together with requests for criminal proceedings to be taken against the bank`s directors, the dimensions of the seizure of Bayindirbank change somewhat. This is because some of the nine files sent by the Presidential Mansion to the Prime Ministry concern Bayindir Holding, Bayindir Bank and BTR. Now the BDDK and the Presidency are once again going to come up against each other.
      As for another one of these banks, Tarisbank, has been the bank for produce growers unions for 113 years. The largest of these unions in the Aegean with 120,000 partners has over 100,000 shares in Tarisbank.
      With the seizure of this bank, the hundreds of thousands of shares held by the shareholders have immediately been transferred to the state. In accordance with a promise given to the IMF last year, all the agricultural (tarim) cooperatives and unions were made autonomous. Yet, this decision saw the management of Tarisbank be transferred to the Fund. Consequently, all those with shares in Tarisbank, as well as the unions, are now represented by the Fund. In fact, in one respect, the state has entered the unions that had been made autonomous just last year.
      Of course, there is one matter that must not be forgotten and that is that thanks to this decision, the BDDK has become the largest financial, commercial and industrial holding in Turkey, Europe and the World.
      All the Taris companies, all the grape, fig, cotton and olive oil concerns, the textile and clothing factories of EGS Bank and its energy plants, Bayindirbank`s bank in Romania, its business center, its highway construction concern in Pakistan, Sumer Holding`s Kentbank, the Suzer companies and hotels now all belong to the BDDK and the Fund.
      The BDDK first owned Esbank and Sumerbank`s industrial complexes and then because of Etibank it took on ATV and the Sabah newspaper. Now because of Iktisat Bankasi, the BDDK owns an encoded TV channel, too.
      As long as more decisions of this nature are taken in the banking sector and the pledges by banks to strengthen capital are not fulfilled, more seizures can be expected.
      However, the cost of bailing out banks is very high. The resulting new burdens and checks could put further strain on the economy.
      But, in the end one has to say that if the government does stick to its agreements, then it should fulfill its promises on time. To first take up a position against the IMF and then do what it wanted anyway, wasting time in the process and turning the economy on its head, is not action one associates with government. besides, in our opinion, Turkey`s primary problem is one of "management" not of currency, interest rates, production and the like.
      What is hoped is that once the requests concerning Telekom and the banks are fulfilled, the IMF executive council will leave the disbursement of loans open and that the markets will relax. But it is uncertain as to when the government will create a new crisis or when it will tinker with the screws of the economy again.
      Let`s get over this crisis first.
      Avatar
      schrieb am 11.07.01 08:59:39
      Beitrag Nr. 135 ()
      www.borsadirekt.com vom 11.07.2001



      Chairman of the Banking Regulation and Supervision Agency, Engin Akcakoca said that the sales process for Demirbank and Sumerbank would be completed before next weekend. Akcakoca added that he expected an increase in mergers, take-overs, and foreign partnerships in banking sector.


      Chairman of the Banking Regulation and Supervision Agency (BRSA) Engin Akcakoca, said that the burden on the Savings Deposit Insurance Fund (SDIF) would increase by TL 3-3.5 quadrillion (US$ 2.3-2.7 billion) with the transfer of the five banks to the SDIF yesterday. BRSA is seeking a temporary injunction on the belongings of the former administrators of Kentbank, Bayindirbank, and EGS Bank, and to ban them from going abroad. The BRSA also initiated a probe into the credits that were opened to the shareholders of these three banks.
      Avatar
      schrieb am 11.07.01 07:03:44
      Beitrag Nr. 134 ()
      Leverkusen, den 11.07.2001,

      Liebe Mitaktionäre,

      bevor es hier wieder zu gären anfängt eine noch etwas unreife Info. Da ich dringenst zur Arbeit muß fasse ich mich kurz :

      Wir sind seit einiger Zeit mit einem türkischer Anlegerschutzverein in Verbindung und prüfen derzeit Klagemöglichkeiten und die Bedingungen. Der Anlegerschutzverband hat 11.000 Mitglieder, davon 2.300 Demirbankaktionäre. Die ersten Gespräche sind positiv verlaufen, man wäre bereit unseren Fall mit zu übernehmen. Nähere Bedingungen klären wir derzeit noch. Innert einer Woche sollen wir einen Vorschlag von deren Anwälte erhalten.

      Nach intensiven Gesprächen mit dem DSW zeigt man sich dort jetzt auch bereit uns bei der Prüfung dieser Möglichkeit zu unterstützen.

      Beste Grüße,
      TurboInvestor
      Avatar
      schrieb am 10.07.01 23:49:18
      Beitrag Nr. 133 ()
      an alle


      ein zweites meeting muß her.
      wir brauchen einen anwalt.
      das sollten wir diskutieren.


      meinungen erwünscht.
      Avatar
      schrieb am 10.07.01 17:10:48
      Beitrag Nr. 132 ()
      Diese 5 Banken wurden kassiert, nachdem sie der Aufforderung des SDIF, ihr Eigenkapital zu erhöhen, nicht nachgekommen waren.

      Die Demirbank hingegen wurde kassiert, ohne Aufforderung, ohne Fristsetzung, trotz ausreichender Liquidität und Eigenkapital. Jetzt wird die Demirbank ausgeplündert, jetzt ist das Eigenkapital weg. Gestohlen durch den türkischen Banditen-Verein.
      http://www.demiryatirim.com.tr/e_index.htm

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      Avatar
      schrieb am 10.07.01 14:41:21
      Beitrag Nr. 131 ()
      Istanbul, 10. Jul (Reuters) - Die türkische Bankenaufsicht

      hat am Dienstag fünf hoch verschuldete Privatbanken des Landes

      unter ihre Kontrolle gestellt, womit die Türkei eine weitere

      Hürde für die Freigabe der eingefrorenen IWF-Kredite genommen

      hat. Wie die Aufsichtsbehörde in Istanbul weiter mitteilte,

      stellen die Institute eine Gefahr für die Stabilität des

      Finanzsystems dar. Die Türkei hat dem Internationalen

      Währungsfonds (IWF) zugesagt, bis zum Jahresende alle von der

      Bankenaufsicht kontrollierten Institute zu veräußern oder zu

      schließen. Eine Umstrukturierung des reformbedürftigen

      türkischen Finanzsystems gilt als wichtige Bedingung für die

      baldige Auszahlung der in der vergangenen Woche auf Eis gelegten

      IWF-Gelder über 1,562 Milliarden Dollar. Aus IWF-Kreisen erfuhr

      Reuters am Montagabend, der Fonds könne schon am Mittwoch oder

      Donnerstag die Kredite wieder freigeben.

      Als Reaktion auf die jüngste Finanzkrise des Landes Anfang

      des Jahres hat die türkische Bankenaufsicht nun insgesamt

      bereits 18 Banken unter ihre Kontrolle genommen. Die fünf am

      Dienstag übernommenen Privatinstitute Bayindirbank, EGS Bank,

      Kentbank, Tarisbank und Sitebank seien stark überschuldet,

      teilte die Behörde weiter mit. Sie würden nun auf einen

      möglichen Verkauf vorbereitet.

      IWF und Weltbank haben der Türkei wegen der jüngsten

      Finanzkrisen des Landes insgesamt rund 15,7 Milliarden Dollar an

      Krediten in Aussicht gestellt, deren Auszahlung aber von

      Reformen des Bankensektors und Privatisierungen abhängig

      gemacht. IWF und Weltbank hatten in der vergangenen Woche die

      Freigabe von etwa 3,3 Milliarden Dollar verschoben. Sie

      begründeten dies mit dem nach ihrer Ansicht zu schleppenden

      Fortschritt bei den Reformen des Bankensystems und der

      Privatisierung der Türk Telekom. Die Regierung habe bei der

      Neubesetzung des Telekom-Vorstandes entgegen vorheriger

      Absprachen den Vorsitzenden auf seinem Posten belassen und

      zahlreiche Politiker anstelle der geforderten Experten aus der

      Privatwirtschaft in das Gremium berufen, hieß es vom IWF.

      Der türkische Ministerpräsident Bülent Ecevit hatte am

      Montag einen Vorstandswechsel beim Staatskonzern Türk Telekom

      angekündigt und damit signalisiert, eine weitere wichtige

      Bedingung für die Freigabe IWF-Gelder erfüllen zu wollen. Das

      türkische Finanzministerium teilte unterdessen mit, am Dienstag

      oder Mittwoch werde über Änderungen im Vorstand des

      Telekomkonzerns beraten.

      Aus IWF-Kreisen hatte es am Montagabend geheißen, der Fonds

      sei zuversichtlich, dass bereits am Dienstag eine entscheidende

      Änderung des Konzernvorstands beschlossen werde, so dass gegen

      Ende der Woche die eingefrorenen Gelder für die Türkei wieder

      freigegeben werden könnten. «Es gibt ein Bestreben, die Sache

      bis zum Ende der Woche zu beenden. Mittwoch oder Donnerstag wäre

      dafür die Möglichkeit«, sagte ein IWF-Direktoriumsmitglied zu

      Reuters. Die türkische Regierung bewege sich offenbar in eine

      Richtung, die den IWF zufrieden stelle.

      phi/mwo

      REUTERS
      Avatar
      schrieb am 10.07.01 10:07:22
      Beitrag Nr. 130 ()
      fünf weitere banken vom sdif heute übernommen worden.
      bald gibts keine mehr.
      Avatar
      schrieb am 10.07.01 08:45:31
      Beitrag Nr. 129 ()
      Moin, Moin zusammen

      anbei ein paar Info´s
      http://www.demiryatirim.com.tr/e_index.htm
      -------------------------------------------------------
      1.
      According to the newsdaily Dunya, chairman of SDIF banks stated that the selloff period for Sumerbank and Demirbank would certainly finalised this month. He also stated that the reconstruction period for the other fund banks under Etibank will last around two or three month.
      2.
      Banking watchdog announced that five private commercial banks, namly Bayindirbank, EGS Bank, Kentbank, Tarisbank and Sitebank, were taken over by the Saving Deposites Insurance Fund (SDIF). These banks have not improved their financial structures via capital increases even though the banking watchdog gave instructions to do so.
      Avatar
      schrieb am 09.07.01 18:39:19
      Beitrag Nr. 128 ()
      Hier der Text dazu:

      Chairman of the Joint Board of SDIF banks Tevfik Altinok stated that Demirbank and Sumerbank would be sold by the end of July. Altinok also noted that they were waiting for Iktisat Bank’s transfer balance sheet to be completed and for legal complications regarding Turkbank to be resolved, in order for their selling phases to kick off.

      Diese elenden Banditen. Von Dezember bis Ende Juli (mindestens) wollen diese Dreckschweine auf unserer Demirbank herumreiten und die Demirbank ausplündern !!!

      Ob bis dann noch was übrig ist ? Oder kommt dann die nächste Fristverlängerung ?
      Avatar
      schrieb am 09.07.01 18:29:00
      Beitrag Nr. 127 ()
      http://www.demiryatirim.com.tr/e_index.htm:

      Der Verkauf soll noch in diesem Monat stattfinden: Jeder Tag ist für diese Schweine ein schöner Tag zum Stehlen!!!

      Eine Sammelklage wird wohl nicht zu vermeiden sein: Kennt
      jemand gute Adressen (internationale Gerichte)? Bitte Vorschläge.

      Danke.
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      Demirbank - Zukunftsaktie mit gigantischen Potential - (4)