Majority of VakifBank transferred to Turkish Treasury

The process of transferring the majority of shares of Turkey's state-owned lender VakifBank has been finalized, the bank announced in a statement on Wednesday to the Public Disclosure Platform.

Some 58.51% shares have been transferred to Turkey's Treasury and Finance Ministry as of Wednesday, it said.

Following a presidential decree published in the country's Official Gazette last week, the process of the bank's stock register began on behalf of the ministry.