[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Reference: Public disclosures of Türkiye İş Bankası A.Ş. (İşbank) on 25.03.2016 and 02.11.2018

In 1993, Dışbank A.Ş. shares which were owned by İşbank were sold to Lapis Holding A.Ş. and USD 75 million down payment was collected under the sale agreement. In 2008, it was claimed by Savings Deposit Insurance Fund (SDIF) that aforementioned down payment amount had been provided from the funds of the insolvent TYT Bank A.Ş. by the buyer. USD 52.6 million of the aforementioned amount was paid in 2016, including interest, as TL 298.5 million, and provisions were set aside for the entire amount in previous periods.

A lawsuit for collection of receivables filed by the SDIF against the Bank simultaneously for the same down payment in ordinary jurisdiction and the negative declaratory lawsuit filed by the Bank to determine that Bank is not debtor have continued. While the lawsuit for collection of receivables is still in progress, the decision against the Bank in the negative declaratory lawsuit has been finalized. Although the judicial process has not been concluded in all its aspects, within the framework of the aforementioned decision, the necessary provisions have been set aside for the entirety of probable payment of USD 22.4 million (which is the amount between USD 52.6 million which was paid in 2016 and the down payment) and its interest as of 31.12.2022.


This is the translation of the Turkish public disclosure made by Türkiye İş Bankası A.Ş. through the Public Disclosure Platform, under the Material Events Guideline prepared in accordance with the Communique of Material Events, numbered II-15.1. According to the Material Events Guideline and the regulations, the Turkish public disclosure shall prevail.