Akbank has issued a five-year TRY 4.4 billion covered bond to the International Finance Corporation (IFC), reinforcing long-term local-currency funding for Türkiye’s housing market. The proceeds will finance mortgages for women homeowners, green housing loans, and housing recovery in earthquake-affected regions.
The transaction marks IFC’s first covered bond investment in Türkiye since 2017. For Akbank — the pioneer of the country’s first covered bond issuance — the deal represents its sixth issuance in this asset class and the second bond transaction completed with IFC.
“We are pleased to complete this transaction with IFC, a trusted partner and a key supporter of Türkiye’s real economy. Akbank pioneered the country’s first covered bond issuance in 2015 and helped reopen the market in 2025 after a six-year hiatus. With this long-term local-currency deal, we are contributing to the development of the Turkish lira capital markets while further strengthening international confidence in the lira,” said Şebnem Muratoğlu, EVP, Treasury and Financial Institutions at Akbank.
“This investment is a meaningful step toward supporting long‑term, local‑currency finance for people who need it most, from women buying a home to families rebuilding in earthquake‑affected cities. It also helps strengthen Türkiye’s housing‑finance market, building resilience and laying the groundwork for more sustainable, long‑term financing,” said Momina Aijazuddin, IFC Regional Industry Director, Financial Institutions Group, Middle East and Central Asia.