Kıb-Tek disputes claims about debt settlement in statement to BRTK
Kıb-Tek Debts Paid Off in 2018-2019
Kıb-Tek recently released a statement addressing claims that the institution had cleared its debts in 2018-2019. In the statement, Kıb-Tek provided detailed information about its debt situation during those two years.
According to the statement, in 2018, the total debt of the institution to banks amounted to 139,967,546.03-Turkish Lira (TL), with an additional debt of 46,679,857.10-TL to AKSA Energy. This brought the total debt for 2018 to 186,647,402.13-TL, equivalent to 35,279,728.22-USD. Moving on to 2019, Kıb-Tek’s debt to banks decreased to 87,424,098.13-TL, while its debt to AKSA Energy increased to 154,974,187.13-TL. The total debt for 2019 stood at 242,398,258.26-TL, with a dollar equivalent of 40,734,415.32-USD.
Despite a decrease in investments and material stock during the pandemic, Kıb-Tek continued to carry its debts post-2018. However, in the past two years, the institution has made efforts to improve its financial standing. Investments have resumed, material stocks have been replenished, and outstanding debts have been restructured on more favorable terms.
Moreover, Kıb-Tek has successfully addressed stock deficiencies, procured the necessary materials, and initiated projects for essential investments in the country. The institution is now on a path towards financial stability and growth.
These recent developments highlight Kıb-Tek’s commitment to managing its debts responsibly and investing in the future. The institution’s efforts to improve its financial health are crucial for ensuring a sustainable and prosperous future for all stakeholders.
