Turkey’s Halkbank looks to get loans, issue bonds when conditions are right

ISTANBUL - Reuters

Turkey’s Halkbank is looking to secure a syndicated loan and issue foreign currency bonds when conditions are right, it said in a statement to Reuters, after one of its executives was convicted in the United States of evading sanctions on Iran.

The majority state owned lender has allocated some $7.6 billion project financing loans for 63 projects as of this month, as it focuses on lira funding resources to provide loans to small- and medium-sized enterprises.

A U.S. jury this month found Mehmet Hakan Atilla, a Halkbank executive, guilty of helping Iran evade U.S. sanctions. He was convicted on five of six counts he faced, including bank fraud and conspiracy, in Manhattan federal court.

Following the conviction Halkbank said it had adhered to national and international regulations and it was not a party in the U.S. court case.

In the statement to Reuters, the lender also said that it allocated loans as guaranteed in the North Marmara Highway Project, while it said an increase in the loan was not on agenda.