ISTANBUL - Turkey`s Sekerbank has received a loan of 10 million USD from the Wachovia Bank.
The Machovia Bank lent the loan to Sekerbank under its efforts to create source for the small and medium size enterprises (SMSEs) and micro enterprises.
The loan provided under the guarantee of the American state-run investment and insurance institute Overseas Private Investment has a term of 5 years.
Sekerbank provides banking services for the residents of Turkey and abroad. The company focuses on providing a variety of corporate and commercial, retail, and small business banking services and products. Sekerbank has more than 200 branches and more than 200 ATMs in about 60 cities throughout Turkey. Its subsidiaries include Seker Yatirim (investment banking), Seker Leasing (leasing), Seker Bilisim (information technology services), and Seker Off-Shore (off-shore banking). The company was founded as Seker Pancari Kooperatifleri Bankasi in 1953. Sekerbank`s pension fund owns more than 50 percent of the company. Sekerbank plans to continue to develop new products for its customers.
(UK-MS)