Banking

The Turkish Central Bank's total reserves stood at $117.8 billion in August, marking an 11.3% increase compared to the previous month, the bank announced on Sept. 28. 

Official reserve assets jumped 11.3%, according to the bank's international reserves and foreign currency liquidity report.

The Turkish Central Bank's total reserves rose by $944 million to hit $120.1 billion last week, for the first time since November 2016.

According to weekly money and bank statistics published by the bank, the gross foreign exchange reserves increased by $1.6 billion to $79.6 billion on Sept. 10, from $78.5 billion on Sept. 3.

The National Authority for Consumer Protection (ANPC) has issued a fine to Raiffeisen Bank worth 100,000 RON (rd 20,280 euro) for incorrect commercial practices and decided to suspend the bank's activity regarding this behaviour, the first time such a measure was applied n Romania, as well as ordered it to return the illegally cashed commissions from customers, the ANPC informs.

Alpha Bank recorded the highest rise

Last year, due to two moratoriums on loans, but also on interest rates, which are at an all-time minimum, banking sector lost a significant part of its income. On the other hand, many have increased commissions and service costs at the same time, and some have started charging for what they never did.

A few days ago, however, another purchase was announced, so when the merger of Raiffeisen and Credit Agricole Bank is completed, there will be one bank less.
Considering the announcements, there will be more such transactions in the coming months, Novosti writes.

The Turkish and South Korean central banks have signed a bilateral swap agreement allowing for the exchanging of local currencies of up to 2.3 trillion Korean won or 17.5 billion Turkish liras (around $2 billion), said an official announcement.

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The monetary policy interest rate will stay put at 1.25 pct per annum, decided on Friday the Board of the National Bank of Romania, also maintaining the current levels of minimum reserve rates for the liabilities in lei and currency of credit institutions.

Turkey's Central Bank on July 29 increased the country's year-end inflation forecast to 14.1 percent for this year, up from 12.2 percent in its previous report.

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The changes in the supervisory and management boards of the Bulgarian Development Bank (BDB), requested by the Minister of Economy Kiril Petkov, have already been entered in the Commercial Register.