QNB Finansbank

Regulator issues new banking licenses

The Banking Regulation and Supervision Agency (BDDK) has granted licenses to Enpara and Colendi Bank to establish banks.

Enpara, which offers services on digital channels under the roof of QNB Finansbank, has given the green light to operate as a deposit bank. Enpara Bank will be established with a capital of $300 million.

EBRD ramps up investment in Turkey amid pandemic

The European Bank for Reconstruction and Development (EBRD) on Jan. 14 said it has hiked its financial support to Turkey amid its fight against the COVID-19 pandemic.

"The Bank stepped up its financing in Turkey to €1.7 billion ($2 billion) in 2020 through 33 projects, from €1 billion in 35 projects in 2019," it said in a statement.