NEW YORK, March 5, 2015 /PRNewswire/ -- OTC Markets
Group Inc. (OTCQX: OTCM), operator of Open, Transparent and
Connected financial marketplaces, today announced Akbank Turk
Anonim Sirketi (Istanbul Stock Exchange: AKBNK; OTCQX: AKBTY), one
of Turkey's largest commercial
banks and a leading global banking brand, has qualified to have its
American Depositary Receipts (ADRs) trade on OTCQX®, the best
marketplace for established, global and growth companies, effective
March 4, 2015.
Akbank trades on OTCQX under the symbol "AKBTY," where each ADR
represents two ordinary shares. U.S. investors can find
current financial disclosure and Real-Time Level 2 quotes for the
company on www.otcmarkets.com.
"We are proud to welcome Akbank to the growing family of
international companies on OTCQX," said R.
Cromwell Coulson, President and CEO of OTC Markets
Group. "U.S. investors interested in participating in
Akbank's growth now have convenient access to the company's English
language news and financial disclosure and real-time full depth of
market in its ADRs so they can more easily analyze, value and trade
its securities. We look forward to supporting Akbank as it
continues to grow and deliver long-term value to its
shareholders."
Akbank CEO Hakan Binbaşgil
underscored that international companies must meet high financial
and disclosure standards to trade on OTCQX and said, "We are
pleased our ADRs have qualified to trade on OTCQX next to the
depository receipts of other leading global firms. Akbank ADRs will
trade on another transparent, highly liquid market with enhanced
access for international investors. This success is an
indication of Akbank's implementing the highest Corporate
Governance standards, our high growth prospects and the bank's
strong reputation among the investor community."
Citi serves as Akbank's Principal American Liaison ("PAL") on
OTCQX, responsible for providing professional guidance on OTCQX
requirements.
With a strong and extensive distribution network of 991 branches
and over 16,300 employees, Akbank operates domestically from its
Head Office in Istanbul and 23
regional directorates across Turkey and through its subsidiaries in
Germany and Dubai. Akbank's core business is banking
activities, consisting of consumer banking, commercial banking, SME
banking, corporate banking, private banking, treasury transactions
and international banking services. The Bank's subsidiaries provide
non-banking financial services alongside capital markets and
investment services. As of Dec. 31,
2014, the company had total assets of TL218.697 million,
total loans of TL136.131 million and total customer deposits of
TL116.292 million.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent
and Connected financial marketplaces for 10,000 U.S. and global
securities. Through our OTC Link® ATS, we directly link a
diverse network of broker-dealers that provide liquidity and
execution services for a wide spectrum of securities. We
organize these securities into marketplaces to better inform
investors of opportunities and risks – OTCQX®, The Best
Marketplace; OTCQB®, The Venture Marketplace; and OTC Pink®, The
Open Marketplace. Our data-driven platform enables investors
to easily trade through the broker of their choice at the best
possible price and empowers a broad range of companies to improve
the quality and availability of information for their
investors. To learn more about how we create better informed
and more efficient financial marketplaces, visit
www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and
SEC regulated ATS.
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Media Contact:
Saskia
Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428,
saskia@otcmarkets.com
