Adabank

The Bank of China will likely start operations in Turkey by the end of 2016, the head of Turkey's banking watchdog has told Anadolu Agency. 

A commercial court in Istanbul has fined 11 people a total of some 25.6 billion Turkish Liras for "looting the accounts of ?mar Bank," which had its banking license canceled by Turkey's Banking Regulation and Supervision Agency (BDDK) in 2003.

Turkey's Savings Deposit Insurance Fund (TMSF) will again put local lender Adabank up for auction on Feb. 23, 2016, after previous auctions did not yield results, as was announced in the Official Gazette on Nov. 21. 

The insurance fund has put an appraisal price of $60 million on some 94.4 percent of Adabank, $17.5 million less than the previous 2014 appraisal price.

Bank Pozitif has received an initial takeover approach from a potential investor, the Turkish bank's parent company Bank Hapoalim said on May 12.

Hapoalim, Israel's largest lender, said in a statement to the Tel Aviv Stock Exchange that the unnamed investor has offered to buy all of Pozitif's outstanding shares, including the 70 percent stake held by Hapoalim.

Israel's Hapoalim Investment has plans to sell a majority stake in Turkish BankPozitif, amid political coolness between Israel and Turkey, according to sources. 

BankPozitif Chairman Hasan Akçayal?o?lu confirmed various talks for a possible sale are the case, but there has not been any official decision yet. 

Banking Regulation and Supervision Agency (BDDK) decided late Feb. 3 that 63 percent of the privileged shares that make up the executive board of Bank Asya should be controlled by the Saving Deposit Insurance Fund (TMSF). This decision has been made according to Article 18 of the Banking Law.