Akbank

Turkish lender Akbank has mandated a consortium of international banks to renew its syndicated loan amounting to a total of $1.2 billion, it said March 13 in a written statement to the Public Disclosure Platform.

Citigroup has sold its nearly 10 percent stake in Turkey?s Akbank for $1.2 billion, the U.S. lender said on March 5, its latest disposal of overseas assets to cut costs and boost profits.

New York-based Citi has been paring back in international markets in recent years, pulling out of retail banking inTurkey as well as long-established businesses such as Japan.

The situation of women in Turkey as revealed in the World Economic Forum’s Global Gender Gap report issued every year is grave. In the 2014 report, Turkey was in 125th place among 142 countries.

Akbank Sanat brings together world-renowned Jazz musicians and young talent with music fans during the Akbank Sanat Jazz Days, which opened on June 5.

The Turkish Central Bank topped the corporate tax champion list in 2013 by paying nearly 900 million Turkish Liras, figures released by the Revenue Administration have reported.

Moody’s has taken rating revisions on 11 Turkish banks, citing an increasingly challenging operating environment, which “is expected to persist for the next 12-18 months.”