Region: Turkey

UniCredit has completed its retreat from Turkey’s banking sector after selling its remaining stake in local bank Yapi Kredi for €300 million, as Spanish lender BBVA prepares to deepen its ties in the country with a takeover bid of its Turkish subsidiary.

08 December 2021

Turkey’s Halkbank will not avoid criminal charges for allegedly disregarding United States sanctions against Iran, after a US appeals court rejected its argument that it was protected by sovereign immunity.

29 October 2021

Turkish regulator BDDK has reversed a days-old ban on Citi, UBS and BNP Paribas’s foreign exchange activities, after issuing a new regulation against market manipulation which free speech advocates warn might have a chilling effect on financial reporting.

13 May 2020

Turkey’s banking sector is appealing for a delay to a new minimum lending requirement, after the country’s president criticised private banks for not stepping up lending during the coronavirus pandemic.

27 April 2020