Latest articles from Turkey

BNP Paribas joins rush to buy into Turkish banks prior to EU talks

March 7, 2005

BNP Paribas has acquired 50% of TEB Financial Investments AS from Turkey’s Colakoglu Group for $216.8m. The sales agreement, signed in Istanbul on February 11, means that the French bank now has control of a 42.2% stake in Türk Ekonomi Bankas¦ (TEB), a midsize Turkish bank. The development came as European banks stepped up a campaign to buy shares in Turkish banks, ahead of the start of Turkey’s membership talks with the EU in October.

EU entry preparations make Turkey an attractive target

March 7, 2005

European banks are sizing up potential acquisition targets in Turkey as the country’s financial sector benefits from the prospect of EU membership.

Suzan Sabanci Dinçer

February 2, 2005

board member and managing director, Akbank

Suzan Sabanci Dinçer is due to take over from her father, banking legend Erol Sabanci, as the current chairman of Akbank. Winner of The Banker’s 2004 Bank of the Year award for Turkey, Akbank is the second largest bank in Turkey, 40% owned by the Sabanci group – the largest financial-industrial conglomerate in the country, and has the highest return on assets.

Central Bank Governor 2006: Global & Europe

January 3, 2005

Süreyya Serdengeçti, Governor, Central Bank of the Republic of Turkey

Turkey finds EU’s Cyprus conditions unpalatable

January 3, 2005

Turkish government officials have said the EU’s decision to open membership talks with Turkey on condition that Ankara recognises the Greek Cypriot administration is unpalatable.
The EU, at its Brussels summit on December 17, said talks with Turkey could start on October 3 this year after Turkey recognises the Greek Cypriot administration as the sole government of the divided Mediterranean island Cyprus. The EU said Turkey must also accept possible permanent curbs on the free circulation of Turkish labour in the union.

Turkey expects glitches in currency changeover

December 1, 2004

Turkey is likely to experience problems when it introduces a new currency next year, bankers and economists fear.
Turkey is due to introduce the currency, the new Turkish lira (YTL), on January 1. Six zeros will be knocked off the old currency in a move to ease accounting practices, reduce strains on payment systems and create psychological conditions to curb inflation forever.

Brokers feel the squeeze

October 4, 2004

The good times may be rolling for Turkey’s economy but for some members of the country’s broking community, the situation is bleak.

Domestic bonds look enticing

October 4, 2004

Investors are being tempted into the Turkish government bond market by transparency and accessible information about state borrowing, and by bond sellers confidence in the economy, says Nick Kochan.

Turkish upward trends

October 4, 2004

Turkish borrowers have been enjoying improved conditions this year, as economic growth moves the country beyond the effects of the deep recession and currency crisis that struck in 2000 and prepares it for EU entry, reports Michael Marray.

Turnaround gathers pace

October 4, 2004

Turkey’s economic health is improving faster than many expected and the positive outlook is spreading to the ratings agencies. Nick Kochan reports from Istanbul on the factors that have stimulated this accelerated progress.

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