Papara buys the entire T-Bank

Papara, one of our country’s leading fintech companies, is purchasing the entire T-Bank. In this context, shareholders of Papara and T-Bank BankMed ve Arab Bank It was claimed that he reached an agreement with Although no official statement has been made on the subject yet, the information that the approval of the regulators is awaited was shared with Webrazzi.

T-Bank, which started its operations in 1985 as the Istanbul Branch of the Bank of Bahrain and Kuwait, became Bahrain and Kuwait Bank A.Ş. in 1991. It continued on its way as an independent institution with the title. In 1992, its name was changed to Garanti Yatırım ve Ticaret Bankası A.Ş. The bank was renamed MNG Bank A.Ş. in 1997. It was renamed as . This sale of T-Bank, which went through a transformation in 2006 when Arab Bank and BankMed took over 91 percent of MNG Bank A.Ş. shares, was approved by the BRSA’s decision dated 29 December 2006. The share transfer was completed in January 2007, and Arab Bank became the owner of 50 percent and BankMed 41 percent, and in April of the same year, the name of the bank was changed to T-Bank.

With the decision of the Extraordinary General Assembly held in 2020, T-Bank’s capital was increased from 650 million TL to 1 billion TL, and the current partnership structure of the bank was changed so that BankMed has 50 percent and Arab Bank has 50 percent.

Papara’s recent acquisitions

Papara has been on the agenda recently with acquisitions. The company took an important step in the process of expanding into Europe by purchasing the Spanish neobank Rebellion last July. The company expanded its vertical by purchasing the esports club SuperMassive in our country. The company was recently brought to the agenda when SadaPay was about to acquire it; Papara CEO Emre Kenci stated that there were negotiations but not concluded yet.