Hints and tips:
...Rounding out this category we have a serious “find the letter” puzzle going on. Banca Națională a României, OK. Türkiye Cumhuriyet Merkez Bankası, clear enough. But Narodna Banka Srbije: ???...
...move contrasts with last week’s announcement by UniCredit that it would complete its exit from Turkey by March next year through selling its remaining 20 per cent stake in the private Turkish bank Yapi Kredi...
...The decision to dispose of its stake in Yapi Kredi was part of that strategy, with UniCredit selling off minority holdings in countries where it does not have a significant presence....
...Turkish bank stocks trade at a lowly average of 0.4 times book value versus wider emerging market banks that sell for a premium. BBVA is betting that the worst has nearly passed in Turkey....
...Halkbank has not agreed to appear in court and its legal team is expected to represent it in what will be a rare trial against a financial institution....
...It not only rejected a summons sent by a Manhattan court, but also returned the FedEx parcel that contained it, with a note penned in blue biro by the bank’s legal department....
...The prospect of a prosecution into the bank itself — or a US Treasury fine — has long hung over Halkbank....
...A federal judge has taken a dim view of a state-owned Turkish bank’s attempts to have US fraud and money laundering charges dismissed without first formally acknowledging them....
...In a speech to the Turkish parliament, he vowed that Turkey would push on with his goal to clear Kurdish forces from a 32km deep and 480km stretch of land that runs from the town of Manbij, west of the Euphrates...
...The privately owned lenders Akbank and Yapi Kredi — along with the partially state-owned banks Halkbank and Vakifbank — were among those that reported an increase in loans that are at risk of turning bad...
...Yapi ve Kredi Bankasi, a large commercial bank, was down 12 per cent....
...Last month Turk Telekom, a big telecoms group, announced a second-quarter loss of almost a billion lira as it was hit by a surge in the cost of financing foreign-currency debt....
...Mr Erdogan was campaigning from a position of maximum power, with control of the media, the courts, and with the powers of a state of emergency in place since the 2016 coup attempt....
...The three-week trial shone a spotlight on a multibillion-dollar gold-for-oil scheme designed to avoid Obama-era sanctions on Iran....
...“Mr Atilla was something of a cog in the wheel and, I would add, at times a reluctant one at that,” he said, arguing that he deserved a “lenient” sentence because of his minor role and otherwise “exemplary...
...“The worst-case scenario is a lot more complicated.” A US official said the Treasury had several options....
...Mr Caglayan returned after a short while and sought a face-to-face meeting, Mr Zarrab said. “He said I can broker this providing there’s a profit share of 50-50,” Mr Zarrab recalled....
...Turkish President Recep Tayyip Erdogan personally approved widening a scheme to help Iran move funds to skirt American sanctions, a witness has told a New York trial that threatens to implicate the upper...
...Turkey’s finance minister has put forward a forceful defence of the activities of the country’s troubled banks during a period being investigated by US authorities for violating sanctions against Iran....
...But this week the Turkish-Iranian gold trader was in a New York court wearing the sombre tan suit of a prison inmate, a reflection of the 34-year-old’s new status as a felon under US law....
...Shares in Turkey’s Garanti Bank lost ground on Wednesday after Spain’s BBVA said it had increased its stake close to 50 per cent by buying a 10 per cent holding at a chunky discount from Dogus Holding....
...US authorities arrested a top official at Turkiye Halk Bankasi, a bank owned by the Turkish government, accusing him of conspiring with a Turkish-Iranian citizen to help Iran evade Obama-era sanctions....
...Yapı ve Kredi Bankası, the fourth-largest Turkish lender, has cancelled a bond issue, days after the country was the subject of a failed military coup....
...He earlier worked as a board member at Halkbank, a state-owned bank, and as a deputy director at Kuveyt Turk, an Islamic lender....
...A battle over the nomination would have been very market negative....
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