Turkish Halkbank to continue lending to small and medium businesses in 2014

Business Materials 13 February 2014 18:18

Baku, Azerbaijan, Feb. 13

By Rufiz Hafizoglu - Trend:

The Turkish largest state Halkbank will continue financing small and medium-sized businesses in the country in 2014, Turkish newspaper Milliyet reported on Feb. 13.

There is no information about the volume or terms of lending.

Halkbank transferred 52.2 billion Turkish liras for lending to small and medium-sized businesses in 2013. The bank's total loan portfolio amounted to 95.5 billion Turkish liras for the year.

The bank granted loans in cash to the amount of 73.8 billion Turkish liras in 2013, and cashless loans amounting to 21.7 billion Turkish liras.

Halkbank was involved in anti-corruption operations carried out in the country on December 17, 2013. Halkbank's losses are estimated at $1.625 billion.

Turkish police conducted special operations in Istanbul and Ankara on December 17, 2013, resulting in the arrest of several dozens of people that include businessmen and sons of some ministers. Director General of Turkish Halkbank Suleyman Aslan was among those detained.

Halkbank ranks second on the volume of assets [after state Ziraat Bankasi] in the banking market, according to the Turkish Banking Association. There are 861 bank branches.

The Turkish banking sector is one of the leading sectors of the economy. There are 49 banks in Turkey.

Some 36 of the total number of banks are commercial and 13 are investment banks.

There are three state banks, 12 private banks (with 100 percent Turkish capital) and 16 banks established with the foreign capital in Turkey.

Some 789 bank branches were opened in 2013. Thus, the number of bank branches in Turkey amounted to 11,023, according to the Banking Association.

The official exchange rate is 2.1923 TRY/USD on Feb. 13.
Translated by NH

Edited by CN