Special Interview - İş Bankası General Manager Hakan Aran | August 12, 2025

Of course. So, within the framework of our strategic partnership decision with the Acıbadem group, we transferred 80% of Bayındır hospitals to the Acıbadem group. Therefore, Bayındır hospitals will now serve under the Acıbadem Bayındır brand. Our Bayındır hospitals in Ankara and Istanbul will become Acıbadem Bayındır, and we will continue to move together in the health sector with the Acıbadem group, both to increase the capacity of our hospitals and to modernize them.

Yes, we will have a representation on the board of directors. Therefore, we will continue as one member in the 5-person board of directors. Our 20% share will also continue.

So, a transfer transaction was carried out based on a valuation of 80 million dollars. Therefore, after deducting the debts, the payment part was 55 million dollars spread over a year. This was paid in three installments: 20 million dollars at the contract closing, 17.5 million dollars 6 months later, and 17.5 million dollars another 6 months later, resulting in a total payment of 55 million dollars within a year.

The second quarter did not go very well for us. Because in the middle of March, when the interest rate cut cycle was interrupted and interest rates rose again to levels close to the beginning of the year, we started the year at 50, and when they rose to 49% again, this was a big problem for us. Therefore, while the entire sector was expecting an interest rate cut cycle in interest margins, being exposed to a high-interest environment once again negatively affected the profitability of both the banking sector and the real sector. However, the fact that the cycle interrupted in the middle of March is continuing from where it left off as of July gives us hope at least for the 3rd quarter and the last quarter of the year. If there is no other interruption, we think that for the first time this policy will yield results in both inflation and interest rate cuts, and will bring the inflation-exchange rate balance in Turkey to a predictable level for the real sector. As long as there is no new interruption.