Banking Regulation and Supervision Agency

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.

Turkey's watchdog puts new limits on forex swaps

Turkish banks' foreign currency swap transactions cannot exceed over 1 percent of their equities, the country's regulatory authority said on April 12.

Due to rising disparity and risks related to the COVID-19 pandemic, the Banking Regulation and Supervision Agency limited forex transactions for financial stability.

Banks register $2.4 bln net profit in Feb-Jan

Turkey's banking sector recorded 15.1 billion Turkish liras ($2.4 billion) net profits as of end-February, the country's banking watchdog said on March 30.

Total assets of the sector jumped 20 percent year-on-year to 4.7 trillion Turkish liras ($759.7 billion), the Banking Regulation and Supervision Agency (BRSA) report revealed.

Banking sector net profit at $1.33 bln in January

Turkey's banking sector posted a net profit of 7.9 billion Turkish liras ($1.33 billion) in January, the country's banking watchdog said on March 2.

The figure jumped 147 percent year-on-year in the first month of 2020, from 3.2 billion Turkish liras ($615 million) from the previous January, the Banking Regulation and Supervision Agency data showed.

Interest rates on deposits down to three-year low

Average interest rates on deposits in the Turkish banking industry have been falling since the second half of 2019 and hit 9.6 percent, which marked a three-year low, state-run Anadolu Agency reported.

The country's Central Bank delivered a significant 1,275 basis point cut since July 2019, slashing its benchmark one week-repo rate from 24 percent to 11.15 percent.