Latest articles from Turkey

Homing in on the consumer

May 2, 2006

With interest rates falling, Turkey’s banks have moved away from financing of government debt to providing loans and mortgages. Metin Demirsar reports.
Turkey’s banking system is growing rapidly due to cross-border transactions and a buoyant economy. Banks are shifting funds from government securities to loans, as interest rates fall, and competition is intensifying in consumer banking and housing finance.

Old foes eschew nationalism in south-east Europe banking deal

May 2, 2006

National Bank of Greece’s purchase of Turkey’s Finansbank, and other cross-border deals, counter continent’s protectionism adherents.

Hearty appetite for Turkey’s unwrapped paper

February 6, 2006

Turkish banks are on the lookout for more funding to meet demand from the growing credit card, mortgage and commercial loan sectors. Michael Marray reports on the growth in both wrapped and unwrapped paper.

Turkey

January 2, 2006

Koç Financial Services
Kemal Kaya, CEO

Criticism of foreign ownership grows

October 3, 2005

Economic stability has brought foreign banks streaming into Turkey to buy or partner its own banks, causing some locals to question the trend. Michael Kuser reports from Istanbul.

EU negotiations could be tough

October 3, 2005

Turkey is bracing itself for gruelling EU membership talks.Metin Demirsar reports on the state of its economy and the steps that the government must take to meet the union’s requirements.

MAIN STORY: Hapoalim joins rush into Turkey with stake in C Bank

October 3, 2005

Israel’s biggest financial institution, Bank Hapoalim, announced on September 13 that it had signed a memorandum of understanding to acquire a 50% share in Turkey’s C Kredi ve Kalkinma Bankasi (C Bank) for $113m, with the aim of breaking into the lucrative Turkish mortgage and project finance markets.

Rabobank seals $90m deal for Sekerbank stake

August 1, 2005

Holland’s Rabobank has acquired a 36.5% stake in Sekerbank for $90m, as European banks continue to snap up shares in Turkish banks ahead of the country’s membership talks with the EU in October.

Greek banks turn attention to Turkish market

June 6, 2005

Greek hesitancy to invest in Turkey’s financial sector is set to change, according to senior Greek and Turkish bankers who attended an inaugural joint meeting in Athens in May under the umbrella of the Washington-based Institute of International Finance, the global association of financial institutions.

Stampede for Turkey as EU membership beckons

June 6, 2005

KoÇ Financial Services, a 50-50 joint venture between Koç Holding of Turkey and UniCredito of Italy, has acquired 57.4% of Yapi ve Kredi Bankasi for €1.160bn. The deal, May 9, comes as foreign banks rush headlong to acquire Turkish banking assets ahead of membership talks between Ankara and the EU in October.

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