Birleşik Fon Bankası

Turkey’s banking sector posted a 4.5 billion Turkish Lira ($1.2 billion) net profit in January this year, the Banking Regulation and Supervision Agency (BDDK) said on March 9.

Turkey's Saving Deposits Insurance Fund (TMSF) has probed more than 1.6 million bank accounts so far over demands from a number public institutions wanting to learn whether any of their employees had an account with Bank Asya, seized by the state over its links with the Gülen movement, which was believed to be the mastermind behind the failed July 15 coup attempt. 

Deputy Prime Minister Nurettin Canikli said companies seized as part of the probe into the failed coup attempt create a serious risk for the banking sector of up to 5 billion Turkish Liras ($1.7 billion), but their administration by the state minimized the risks.

The takeover of Bank Asya by the Turkish Savings Deposit Insurance Fund (TMSF) is entirely legal and judicial, but not political, Turkish Prime Minister Ahmet Davuto?lu said on late Feb. 4. Many people continued to show their support to the bank by putting money into their bank accounts Feb. 5, although some others were reported closing their bank accounts.

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.