Bank of China

Turkey's banking watchdog has given Bank of China (BOC) permission to launch operations in Turkey, said Deputy Prime Minister Mehmet ?im?ek on May 3. 

Noting that the bank first applied to the Banking Regulation and Supervision Agency (BDDK) in January for a Turkish banking license, ?im?ek said the BDDK decided to give the permission in its meeting on May 2. 

Bank of China has completed its application to receive a banking license in Turkey after submitting the required documents, according to the head of the country's banking watchdog. 

State-owned Bulgarian Energy Holding (BEH) group has said that it will invite a consortium of ??n?? IMI, Bank of China and J.P. Morgan Securities for talks on extending bridge financing of up to EUR 650 M to its indebted subsidiary NEK. 

Bank of China will seek approval to expand its operations in Turkey, highlighting efforts by the two countries to boost business ties, according to sources familiar with negotiations.

Banking Regulation and Supervision Agency (BDKK) head Mehmet Ali Akben has said a Chinese lender has shown interest in taking a banking license in Turkey. 

He noted a high-level delegation from the Bank of China will visit officials from Turkey?s banking watchdog on Sept. 10. 

Banks are arranging USD 1B in financing for, a key offshore gas field project in Azerbaijan seen as crucial for Europe's energy security, the European Bank for Reconstruction and Development (EBRD) has said.

China's Central Bank announced on April 19 it would cut the level of funds that commercial banks must 
hold in reserve by one percentage point, the second such move this year to boost lending.

The move, effective April 20, comes days after the world's second largest economy reported its worst quarterly growth figure for six years.