Banking Regulation and Supervision Agency

The Central Bank has ended targeting conversion from foreign currency deposits to FX-protected Turkish Lira deposits (KKM) in a bid to support the lira time deposits.

Moody's Investors Service has changed its outlook to stable for Turkish banks, saying that for the Turkish banking system is stable as operating conditions improve following the elections.

The government's initial steps to return to orthodoxy in policymaking following the elections in May is supportive of operating conditions for Turkish banks, the rating agency said in a new report.

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.

The combined net income of Turkish lenders increased by 44 percent from a year ago to 190.3 billion Turkish Liras ($7.3 billion) in January-May, data from the Banking Regulation and Supervision Agency (BDDK) have shown.

The banking industry's total assets grew by 17.4 percent compared with the end of 2022 to stand at 16.84 trillion liras as of May.

Turkish banks and the country's banking industry are resilient and sound, the top economy official and regulators have said in separate statements.

The Turkish banking industry's combined net income increased by 69.6 percent in the January-March period from a year ago to 107.3 billion Turkish Liras ($5.5 billion), the Banking Regulation and Supervision Agency (BDDK) has said.

The Istanbul Financial Center (IFC) will open on April 17, Environment, Urbanization, and Climate Change Minister Murat Kurum has said.

A ceremony will be held to deliver houses in the Fikirtepe neighborhood to be attended by President Recep Tayyip Erdoğan, Kurum said during a visit in Istanbul.

The latest data released by the Banking Regulation and Supervision Agency (BDDK) confirmed that the Turkish banking industry, with its high profitability, high asset quality and sound capital structure, has "a healthy outlook," Treasury and Finance Minister Nureddin Nebati has said.

Turkish banks collectively posted a net income of 169.2 billion Turkish Liras in the first half of 2022, up by 400 percent from a year ago, data from the Banking Regulation and Supervision Agency (BDDK) have shown.

Somalia has announced it had awarded licences to two foreign banks, including Türkiye's participatin bank Ziraat Katılım, as the nation opens up the industry to international lenders.

Ziraat Katılım and state-owned Banque Misr of Egypt and will become the first international banks to operate in the country, Somalia's Central Bank said in a statement.