Economic history of Italy
Lenders rack up $7 billion in profits
The total net profit of 53 state-owned and private banks operating in Turkey in the first ten months of this year reached 66.1 billion Turkish Liras ($7 billion), the Banking Regulation and Supervision Agency (BDDK) announced on Nov. 29.
The figure was around $6 billion in the same period of 2020.
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Voluntary exit, again, for the creation of the “new National Bank”
The National Bank is launching a new voluntary exit program with the aim of further reducing its operating costs and making more efficient use of its human resources, as part of its ongoing transformation program.
Systemic risks to financial stability improving but remain elevated
Ljubljana – The general gravity of systemic risks to financial stability has been reduced as the economy has rebounded, but there are elevated risks stemming from the housing market and the long-term profitability of banks, according to the central bank’s latest Financial Stability Review.
Local banks report 48.5 bln liras of net profit in January-August
Turkish banks managed to increase their net profit by 12.8 percent on an annual basis to 48.5 billion Turkish Liras (around $5.5 billion) in the first eight months of 2021, data from the banking sector watchdog have shown.
Turkey's short-term external debt stock at $125.3 bln in July
Turkey's short-term external debt stock stood at $125.3 billion at the end July, according to data released on Sept. 17.
The debt that must be paid in a year or less climbed 9.7% in July compared to the end of 2020, according to the Turkish Central Bank.
A total of 40.7% of the debt stock is in U.S. dollars, 25.8% in euros, 13.3% Turkish liras, and 20.2% in other currencies.
Economy in steady recovery period: Minister
The Turkish economy is in a steady recovery period, Treasury and Finance Minister Lütfi Elvan has told some members of the ruling Justice and Development Party (AKP) group in parliament.
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Turkish banks post $4 bln net profit in January-June
Turkey's banking sector registered a net profit of 33.8 billion Turkish liras ($4 billion) as of the end of June, the country's banking watchdog said on Aug. 5.
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Total assets of the sector hit 6.7 trillion Turkish liras ($785 billion), up 10.2% from the same period last year, a report by the Banking Regulation and Supervision Agency (BRSA) said.
Editorial: The responsibility of banks
In the 1960s Greece had an annual growth rate of six or seven percent and was treated by the OECD as a state that was a model of economic growth.
One might have called it a European tiger, a small version of the Asian tigers of the 1990s.
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Bulgarians Growing Poorer, Spend Their Rainy Day Funds
Since the beginning of the year, Bulgarians have closed about 1,200 small deposits accounts every day. The data of the Bulgarian National Bank (BNB) by the end of March show that on a quarterly basis the savings of up to BGN 1,000 in commercial banks decreased by almost 106,000, or more precisely 105,828.
Turkish banks can cover short market closure: Fitch
The foreign-currency liquidity of Turkish banks is sufficient to cover a short-lived market closure and moderate outflow of FX deposits, according to credit ratings agency Fitch on late on April 6.
It projected the banks' short-term foreign currency debt service requirement, in the extreme event of a full market shut down for 12 months, has increased to $45 billion-$50 billion.