B.R.S.A. Changes Adabank's Administration

ANKARA - Banking Regulatory and Supervisory Agency (BRSA) changed the administration of Adabank on Friday.
Issuing a written statement about the issue, BRSA recalled that it lifted the authority of Imar Bank to carry out banking transactions and to accept deposits as of July 3, 2003. ''Executive board members of Adabank Inc.- which is another bank of the same capital group- other than Kaya Zatiturk and Ahmet Ozer have been dismissed and new members have been appointed as of the decision taken by BRSA on 25.07.2003. The two members of the bank who were earlier appointed by BRSA: Kaya Zatiturk was appointed as the bank's executive board president and Ahmet Ozer as the Director General of the bank.''
Noting that the Adabank continued its activities under the supervision of BRSA, the statement added that there were nothing for persons who have savings in the bank and for investors to feel any worry.
(Öª) 26.07.2003