Finansbank

The Turkish banking sector will end 2019 better than expected, with a recovery in macroeconomic indicators such as growth, inflation, and unemployment, said the heads of both state and private banks.

Bank managers expect the sector to continue to support the economy in 2020.

The European Bank for Reconstruction and Development (EBRD) has said it is providing a loan of 25 million euros to QNB Finans Finansal Kiralama A.Ş., a leasing subsidiary of the Turkish lender QNB Finansbank, to broaden access to finance for the country's small and medium-sized enterprises (SMEs).

The European Bank for Reconstruction and Development (EBRD) has said it is increasing financing for its popular Women in Business program with a new $55 million loan to QNB Finansbank, a Turkish commercial bank, which will on-lend the funds to businesses either owned or run by women. 

The International Finance Corporation (IFC), a member of the World Bank Group, and the Dutch Entrepreneurial Development Bank (FMO) are providing a long-term loan to Finans Leasing, a leading Turkish leasing company and a subsidiary of QNB Finansbank, the institutions said in a press release on May 4. 

National Bank of Greece announced on Monday that, following the conclusion of the sale of Turkish subsidiary Finansbank, it has addressed a letter to the Single Supervisory Mechanism (SSM) of the European Central Bank requesting approval to repurchase the contingent convertible bonds (CoCos) amounting to about 2.03 billion euros issued in December 2015 and held by the Hellenic Financial Stabili

Turkish stocks fell and bond yields surged on May 5 after officials said overnight that the ruling party was set to replace Prime Minister Ahmet Davuto?lu at an extraordinary congress in the coming weeks.

Spain's BBVA, which has a majority stake in Turkey's Garanti Bank, is looking to buy another bank in the country, BBVA chief Carlos Torres Vila has said. 

BBVA is not actively in talks as there are no banks for sale, but Turkey is a strategic market, he said. "We want to grow in Turkey. We want to acquire another lender that will bring value to Garanti."

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. 

Two lenders from Iran are planning to take license to do business in the Turkish market, said the head of Turkey's banking watchdog. 

"We have taken demands from Iranian banks. Two Iranian lenders want to take banking license in Turkey," said the head of the Banking Regulation and Supervision Agency (BDDK), Mehmet Ali Akben, on March 16. 

Qatar is in talks to buy stakes in a number of Turkish banks and hopes to conduct significant investments in Turkey's agricultural sector, Qatar's envoy to Turkey has said, according to business daily Dünya.

Qatari Ambassador to Turkey Salem Mubarak Shafi al-Shafi said the talks with a number of Turkish banks had been ongoing to acquire stakes.