Banking Regulation and Supervision Agency

Turkey's banking sector posted net profits of 13.9-billion Turkish Liras ($3.54 billion) in the first quarter of 2018, the Banking Regulation and Supervision Agency (BDDK) stated on May 3.

Turkey’s banking sector posted a 4.5 billion Turkish Lira ($1.2 billion) net profit in January this year, the Banking Regulation and Supervision Agency (BDDK) said on March 9.

Net profit for Turkish banks rose 27.5 percent in the same period of January to July from a year ago, by the support of net interest rates and commission fees, based on the data from Turkey's banking regulator on Sept. 6.

The profits of nine top Turkish lenders traded on Borsa Istanbul rose by 32.9 percent in the first half of the year from the same period in 2016, according to data from the Public Disclosure Platform (KAP).      

The value of assets belonging to companies seized by the Turkish state during the ongoing state of emergency is nearly 41 billion Turkish Liras (around $11.3 billion), Deputy Prime Minister Nurettin Canikli stated on July 7.      
 

The combined net profits of Turkey's banking sector rose by 50 percent year-on-year to 21.2 billion Turkish liras ($6 billion) in the first five months of 2017, according to the Banking Regulation and Supervision Agency (BDDK).

More than 215,000 people have been using ByLock smartphone app, an encrypted messaging application that is said to have been used by members of the Fethullahist Terrorist Organization (FETÖ) of the U.S.-based Islamic preacher Fethullah Gülen, according to an indictment prepared as a part of the FETÖ investigation. 

The Bank of China (BOC) has received permission to operate a deposit bank in Turkey through the investment of $300 million, Turkey's banking watchdog said late Jan. 13, according to Anadolu Agency. 

In a statement, the country's Banking Regulation and Supervision Agency (BDDK) said BOC had brought the "required capital" and would apply to start operating shortly.      

Three foreign banks have voiced strong interest in Turkey and they are likely to enter Turkish markets in 2017, Mehmet Ali Akben, the Banking Regulation and Supervision Agency (BDDK) head, has said. 

Akben said they were lenders from the Gulf region that had banking licenses in Turkey, such as the Bank of Bahrain and Kuwait, which recently opened a representative office in Turkey. 

Lending in local currencies should be considered as an opportunity to enhance trade relations with countries like Russia and China, head of a Turkish banking watchdog said on Dec. 21.