The name of BİM's 10 billion TL bank has been revealed: Operating license is awaited...

A new phase has been reached in the move by BİM, one of Turkey's leading retail chains, into the banking sector. Registration procedures at the Istanbul Trade Registry Directorate have been completed for Dost Katılım Bankası A.Ş., which has a capital of 10 billion TL and received establishment approval from the Banking Regulation and Supervision Agency (BRSA) in June.

Following the registration, the final process required for the bank to begin operations will be the operating license from the BRSA. If the license is granted, Dost Katılım Bankası is expected to begin providing services across Turkey and carry out its branching process.

ESTABLISHED WITH 10 BILLION TL CAPITAL

Following its high market share and recently announced profitability figures, BİM had applied to establish a bank as part of its decision to expand its field of activity. In June, the BRSA approved the establishment of Dost Katılım Bankası A.Ş. with a capital of 10 billion TL.

With the completion of the establishment process, the bank's ability to effectively provide services will depend on the operating license to be obtained from the regulatory body. If the BRSA grants the necessary license by the end of the year, the bank is expected to begin its operations.

It is stated that the shares of the bank will belong to BİM Birleşik Mağazalar. In addition to BİM, the establishment structure includes Desto Atık Yönetimi A.Ş., Dost Global Danışmanlık A.Ş., GDP Gıda Paketleme Sanayi ve Ticaret A.Ş., and Es Global Gıda Sanayi Ticaret A.Ş.

Details regarding which products and services Dost Katılım Bankası, which is planned to operate in the field of participation banking, will enter the market with are expected to become clear in the coming period after the licensing process is completed.

News Source: 12punto