Banking Regulation and Supervision Agency
Contactless payment limit to double as of July
The Turkish banking regulator has decreed that the threshold for contactless payments will be raised by 100 percent to 1,500 Turkish Liras as of July 1.
- Read more about Contactless payment limit to double as of July
- Log in to post comments
Banks' profit rises 32 percent in January-April, show data
The combined net income of Turkish banks increased by 32 percent in the first four months of 2024 from a year ago to 190.7 billion Turkish Liras ($5.94 billion), show data from the Banking Regulation and Supervision Agency (BDDK).
Total assets in the banking industry grew by 11.4 percent compared with the end of 2023 to reach 2.69 trillion liras as of April.
BDDK allows three new banks to be established
The Banking Regulation and Supervision Agency (BDDK) has allowed the establishment of three new banks.
According to the decision published in the Official Gazette, as per BDDK's decision, two investment banks, namely Marin Yatırım Bankası and Aytemiz Yatırım Bankası, and one digital participation bank, Adil Katılım Bankası, will be established.
- Read more about BDDK allows three new banks to be established
- Log in to post comments
Turkish banks’ profit rise 45 pct in January-March
The combined profit of Turkish banks increased by 44.7 percent in the first quarter of 2024 from a year ago to 153.5 billion Turkish Liras ($4.8 billion).
Assets of lenders grew by 9.9 percent, or by 2.3 trillion liras, from the end of 2023 to reach 25.87 trillion liras, the Banking Regulation and Supervision Agency (BDDK) said.
- Read more about Turkish banks’ profit rise 45 pct in January-March
- Log in to post comments
Banking sector’s profits rise in January-February
The combined net income of Turkish banks increased by 14 percent in the first two months of 2024 from a year ago to 74.7 billion Turkish Liras, data from the Banking Regulation and Supervision Agency (BDDK) have shown.
The total assets of the banking industry increased by 4.7 percent from the end of 2023 to stand at 24.7 trillion liras, the watchdog said.
- Read more about Banking sector’s profits rise in January-February
- Log in to post comments
Banks to switch to inflation accounting from 2025
Türkiye's banks and other financial institutions will start applying inflation-adjusted accounting next year, the Banking Regulation and Supervision Agency (BDDK) has announced.
- Read more about Banks to switch to inflation accounting from 2025
- Log in to post comments
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.
- Read more about Banks’ profits hit 440 billion Turkish Liras
- Log in to post comments
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.
- Read more about KKM deposits decline, show data
- Log in to post comments
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.
- Read more about Banking sector’s net profit up 41 percent
- Log in to post comments