Halkbank
OpenCalais Metadata: Ticker
Wealth fund ‘subject to thorough and strict audit’
The Turkey Wealth Fund (TWF) is subject to very strict and thorough audit, Vice President Fuat Oktay has said.
Replying to opposition criticism about the debt ratio of the fund during a parliamentary debate on the 2021 budget, Oktay said on Dec. 16 that claims that the TWF is not being audited are wrong.
- Read more about Wealth fund ‘subject to thorough and strict audit’
- Log in to post comments
Moody’s upgrades ratings of 12 Turkish banks
Ratings agency Moody's has said it has upgraded the long-term foreign currency deposit ratings of 12 Turkish banks.
- Read more about Moody’s upgrades ratings of 12 Turkish banks
- Log in to post comments
Qatar becomes 10% shareholder of Turkey's stock exchange
The acquisition of a 10% share in Turkish stock exchange Borsa Istanbul by the Qatari state Investment Authority was completed on Nov. 30.
According to a statement from the Turkiye Wealth Fund (TWF), the transaction size of $200 million implies a total equity value of $2 billion.
Turkey’s state lenders act together to support ‘new normalcy’
The three largest Turkish state-owned banks have unveiled new advantageous loan packages in four categories in a bid to help stimulating the economy as the country relieves the effects of the coronavirus pandemic.
Turkey’s credit stock reaches $441 bln in first quarter
The cash loans in Turkey increased 14 percent in the first quarter hitting as high as 3.02 trillion Turkish Liras ($441 billion), according to the Banks Association of Turkey (TBB) on May 18.
Turkey's Wealth Fund to raise state lenders' core capital
The Turkish Wealth Fund (TWF) announced late on May 11 that it will raise the core capital of three state lenders.
"To strengthen capital structures and support the adequacy of Ziraat Bank, Halkbank and VakıfBank, we have launched the necessary works to raise core capitals by a total of 21 billion Turkish liras [some $3 billion]," the TWF said in a statement.
Turkey Wealth Fund consolidates public insurance firms
The Turkey Wealth Fund (TWF) acquired all shares of public insurance companies for 6.54 billion Turkish liras ($936.7 million) to consolidate them under a single roof, the fund said late on April 22.
New help for virus-hit firms from Turkey Wealth Fund
Under the new legislation, the (TWF) will now be able to buy or to become partners with companies facing difficulty due to the coronavirus pandemic.
Turkey's Parliament on April 16 passed the bill prepared by the ruling Justice and Development (AK) Party to cushion the virus' impact on economic and social life.
Turkey begins distribution of cash aid to households
Turkey's government has distributed over 12 billion Turkish Liras ($1.75 billion) to 2.1 million low-income households amid the COVID-19 pandemic, Treasury and Finance Minister Berat Albayrak said April 15, adding that 2.3 million more households would receive aid soon.
Turkish banking authority reiterates call for flexibility
Turkish state-owned lenders have created an extra credit volume of 27.5 billion Turkish Liras (about $4 billion) in the last 10 days, the head of the country's banking watchdog has said, criticizing the private banks for the contraction of their credit pool some 5 billion liras ($737.2 million) in the same period.