Banking Regulation and Supervision Agency

No sudden exit from FX-protected deposit scheme: VP Yılmaz

There will be no sudden exit from the FX-protected deposit account scheme, Vice President Cevdet Yılmaz has said.

The scheme was a necessity when it was first introduced and has accomplished its task, Yılmaz told a group of journalists, noting that the amount of money in the FX-protected accounts has been declining fast.

Banks’ profits hit 440 billion Turkish Liras

The combined net profit of Turkish banks increased by 53.5 percent in January-September from a year ago to 439.7 billion Turkish Liras ($16.1 billion).

Total assets of the banking sector rose more than 47 percent from the end of 2022 to amount to 21.09 trillion liras, data from the Banking Regulation and Supervision Agency (BDDK) showed.

KKM deposits decline, show data

Money parked at the FX-protected deposit accounts, also known as KKM, has declined for the first time since the start of the year.

KKM deposits fell around 39 billion Turkish Liras from 3.41 trillion liras on Aug. 18 to 3.37 trillion liras ($124 billion) as of Aug. 25, the weekly data from the Banking Regulation and Supervision Agency (BDDK) showed.

Banking sector’s net profit up 41 percent

The combined net profit of Turkish banks increased by 41 percent in the January-July period from a year ago to 293.4 billion Turkish liras ($11.1 billion), the data from the Banking Regulation and Supervision Agency (BDDK) have shown.

In July alone, the banking sector's net income was up around 12 percent to 43.3 billion liras.

Regulator introduces new cap on some housing loans

The Banking Regulation and Supervision Agency (BDDK) has announced a decision to tighten the conditions for some housing loans as part of the measures aimed at strengthening macro-financial stability.

The loan-to-value ratio has been tightened by 75 percent and set at 22.5 percent from a previous 90 percent for those who want to buy a second home.

Regulator issues new banking licenses

The Banking Regulation and Supervision Agency (BDDK) has granted licenses to Enpara and Colendi Bank to establish banks.

Enpara, which offers services on digital channels under the roof of QNB Finansbank, has given the green light to operate as a deposit bank. Enpara Bank will be established with a capital of $300 million.

Turkish banks' net profit tops 190 billion liras

The combined net income of Turkish lenders increased by 44 percent from a year ago to 190.3 billion Turkish Liras ($7.3 billion) in January-May, data from the Banking Regulation and Supervision Agency (BDDK) have shown.

The banking industry's total assets grew by 17.4 percent compared with the end of 2022 to stand at 16.84 trillion liras as of May.

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