“BBVA’s decision confirms the confidence in the Turkish economy”

BRSA Chairman Mehmet Ali Akben stated that Banco Bilbao Vizcaya Argentaria (BBVA)’s high level of takeover bid confirms the confidence in the Turkish economy.

Banking Regulation and Supervision Agency (BDDK) Chairman Mehmet Ali Akben, in his assessment to the AA correspondent, reminded that Garanti Bank’s controlling partner, BBVA, previously increased its share in 2015 and 2017. Saying that his attempt to increase the shareholding ratio again today is a result of positive expectations for the future of the Turkish economy and banking sector, Akben stated that Turkey’s growth expectations have been revised upwards recently.

Emphasizing that BBVA’s high-level takeover offer confirms the confidence in the Turkish economy, Akben said, “As the BRSA, we, as the BDDK, believe that the strong structure of the Turkish banking sector will keep the interest created by foreign investors alive, and that the investment appetite for our sector will increase in line with the rapid exit process in our economy. We foresee that it will continue by searching permanently.” used the expressions.

Akben said, “We anticipate that the Digital Banking regulation, which we have been working on recently and which we expect to come into force soon, will significantly support the interest of foreign investors in our country’s banking sector.” he concluded his speech.

THE SECTOR ATTRACTED $41.8 BILLION INVESTMENTS IN 19 YEARS

There are 55 banks operating in the Turkish banking system, of which 34 are deposit banks, 15 are development and investment banks, and 6 are participation banks. As of the end of September, nearly 203 thousand employments were provided in the sector, and more than 11 thousand branches provide service. While the asset size of the sector was 7 trillion 47 billion TL as of the end of September, the amount of loans extended in the said period exceeded 4 trillion 38 billion TL. The deposits collected by the sector increased to 4 trillion 107 billion liras.

The equity size of the banking sector reached approximately 655 billion liras at the end of September with an increase of 9.2 percent compared to 2020. In the first 9 months of the year, the sector’s capital adequacy ratio (CAR) is 17.3 percent, which is well above the legal limits.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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