Turkish discount retailer BİM has applied to the Banking Regulation and Supervision Agency (BDDK) on Dec. 24 to establish a participation bank, the company has announced.
In a written statement to the Public Disclosure Platform (KAP), BİM outlined a strategic roadmap for the planned financial subsidiary.
Feasibility studies for a digital participation bank, initiated in October 2024, led to the decision for a "traditional participation bank" model, considering service diversity and operational advantages.
The company noted that a traditional participation bank license offers a richer service range compared to a digital bank license.
Operations will primarily be through digital channels, but this model is seen as more advantageous for providing comprehensive and innovative solutions to customers' financial needs.
According to the statement, BİM aims to integrate its retail market position and customer network with the financial sector.
