Abdulatif Shener, the Turkish State Minister stated that foreign capital in Turkish banks makes up 15%. The amount of the foreign capital in the banking system of Turkey, with the consideration of last deals carried out by the State Inspectorate for Control and Regulating Banks (BDDK), constitutes 15% of total finances. With the consideration of exchange deals, the total foreign capital, accumulated in the country's financial system, reached 31%, Trend Special Correspondent in Ankara reports.
Shener underlined that with such a pace, the amount of foreign capital in Turkey's banking sector will increase to 30%. Over 8 months in 2006, direct foreign capital in the country's economy comprised of $12bn, and by the end of the year it might reach $17-20bn. He noted the high attention towards the country's banking sector.
The local experts note that strengthened authority of foreign banks in the country excites concerns in different circles. Over the last period one of the big banks of the country, Akbank, that holds 12% of Turkey's banking sector, sold its 20% to the Citigroup. The concerns are particularly linked with activity of Greek financial bodies in the country, that benefit policy targeting liberalization of the Turkish economy within the European Unions criteria for penetration into the baking market of Turkey. Thus, the National Bank of Greece has recently purchased Finansbank, while Eurobank the Turkish Tekfenbank. At present the Greek Alpha Bank talks on purchasing new Turkish banks.