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UniCredit Completes Sale of Turkey’s Yapi Kredi
Published by Wanda Rich
Posted on April 1, 2022
1 min readLast updated: February 8, 2026
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Published by Wanda Rich
Posted on April 1, 2022
1 min readLast updated: February 8, 2026
Add as preferred source on GoogleMILAN (Reuters) – UniCredit has finalised the sale of its remaining 18% stake in Turkey’s Yapi Kredi Bank to Istanbul-listed Koc Holding, Italy’s second-biggest lender said on Friday.
MILAN (Reuters) – UniCredit has finalised the sale of its remaining 18% stake in Turkey’s Yapi Kredi Bank to Istanbul-listed Koc Holding, Italy’s second-biggest lender said on Friday.
The transaction, which was announced in November, allows the Italian bank to complete its exit from Turkey’s third-biggest lender, UniCredit said without disclosing financial terms of the deal.
The closing of the transaction is expected to improve UniCredit’s CET1 capital ratio by mid to high single-digit percentage points in the second quarter of 2022, the bank said.
UniCredit had said in November that it expected its best-quality capital to gain a low to mid single-digit uplift, adding that it would receive 300 million euros ($332 million) from the sale.
Koc Holding and UniCredit agreed in 2019 to unwind the joint venture through which they jointly controlled Yapi with a near 82% overall stake.
The move handed UniCredit a direct 31.9% stake, of which 12% was sold in February 2020.
($1 = 0.9036 euros)
(Reporting by Francesca Landini; Editing by David Goodman)
Equity refers to the ownership value of shareholders in a company, represented by shares. It reflects the residual interest in the assets of the company after deducting liabilities.
A capital ratio is a financial metric that measures a bank's capital in relation to its risk-weighted assets. It indicates the bank's ability to absorb losses and maintain solvency.
A stake in a company represents the ownership interest held by an individual or entity, typically measured in shares. It indicates the proportion of the company owned.
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing profits and losses.
CET1 capital, or Common Equity Tier 1 capital, is the highest quality capital that a bank holds, consisting primarily of common stock and retained earnings, used to absorb losses.
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