Region: Turkey

UniCredit exits Turkey after BDDK approval, with White & Case advising

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

Turkish bank’s sovereign immunity defence rejected in New York

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

Turkey issues new market manipulation regulation

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 imposes minimum lending requirement amid Erdoğan criticism

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

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