The Savings Deposit Insurance Fund (TMSF) works as a trustee in a total of 620 companies from 35 provinces of Turkey, whose owners or managers were detained and arrested as part of the investigations carried out regarding the FETO coup attempt following the treacherous coup attempt on July 15.

These companies, which are in different sectors, mainly operate in the furniture, gold and textile sectors.

The fund has also been appointed as a trustee for 84 companies and for the assets of 104 natural persons.

It was decided to start the preparatory procedures regarding the liquidation and cancellation of the 93 companies, for which the SDIF was appointed as a trustee, and the preparation of the announcement and balance sheet. In addition, the liquidation procedures of 30 companies were completed and they were withdrawn from the trade registry.

Total equity of 620 companies has more than doubled

As of the date of transfer to the Fund, the asset size of 620 companies to which the SDIF was appointed as trustee was 39.6 billion TL, while this figure reached 117.7 billion TL with a growth of 197 percent as of March 31, 2023, and the total shareholders’ equity increased by 209 percent to 17. It increased from TL 4 billion to TL 53.7 billion.

The turnover of companies, which was 48.54 billion TL on 31 December 2021, increased by 90 percent at the end of last year and reached 92.15 billion TL.

In the said period, the profits of the companies increased by 131 percent and reached TL 8.99 billion.

Currently, 27,185 people are employed in these companies under the management of the SDIF.

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