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.
Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, email@example.com
SOURCE OTC Markets Group Inc.