BDDK Seizes the Uzans’ Imar Bank
Imar Bank, under the supervision of CEO Kemal Uzan, father of the Youth Party Leader Cem Uzan, had collected TL 912-trillion deposits in total – TL 374,9-trillion in Turkish Liras and the balance of TL 537,1 trillion in foreign currency. Kemal Uzan had transferred TL 645-trillion in credit to his own companies .
State Minister and Deputy Prime Minister Abdullatif Sener announced yesterday that upon the Deposit Saving Insurance Fund’s demand, provisional attachments and precautionary measures could be applied to the properties of the executive board members and administrators.
Telsim, the media and telecommunications company is the biggest in the Uzan stable. The group also has two construction companies, Construction Trade and Central Investment, as well as ten cement companies. It owns Izmir Metalurji, Port Services Industry, Demas and Aysan, the iron and steel plants. The Uzan family’s other subsidiaries are Rumeli Telecom, Star Digital, Media Park Broadcasting and National Press Journalism.
According to Sener’s statement, provisional attachment of Uzan companies companies – Telsim, in particular, could be applied at any time.
The Uzan group’s two other banks, Rumelibank in Cyprus and the Adabank In Turkey are still active. However, since Kemal Uzan lost his powers as a founder of the bank, his partnership rights, except shares in Adabank are to be used by the Fund as well.
21 banks have been transferred to the Saving Deposits Insurance Fund since 1997, the number of banks in the fund now having risen to three. Other banks under the control of the Fund are Bayindirbank and Pamukbank.
