Turkiye Is Bankasi AS

Most emerging market currencies firmed on Thursday, and stocks broke a six-session losing run, as the dollar subsided after a rally spurred an increasingly hawkish U.S. Federal Reserve.

Turkey's three big state banks cut interest rates on Monday on an array of loans by up to 200 basis points, following a surprisingly sharp policy easing by the central bank last week.

Turkey's state banks are expected to cut borrowing costs on loans by around 200 basis points on Monday, according to three people with knowledge of the plan, following last week's unexpectedly hefty rate cut by the central bank.

Turkey's state banks are expected to cut borrowing costs on loans by around 200 basis points on Monday, according to three people with knowledge of the plan, following last week's unexpectedly hefty rate cut by the central bank.

Turkey is considering a fresh capital injection for state banks but they also need a plan to deal with lingering bad debt after the lenders depleted their resources helping Ankara's battle against COVID-19, senior bankers and government officials say.

Turkey is considering a fresh capital injection for state banks but they also need a plan to deal with lingering bad debt after the lenders depleted their resources helping Ankara's battle against COVID-19, senior bankers and government officials say.

Some of Turkey's biggest banks are reluctant to finance President Tayyip Erdogan's planned Istanbul canal due to environmental concerns and the investment risks hanging over the massive construction project, four senior bankers told Reuters.

A sharp spike in borrowing costs following the sacking of Turkey's central bank chief has raised risks for local banks which face a wall of maturing foreign currency debt in the coming months.

Here are news, reports and events that may affect Turkish financial markets on Thursday.

President Tayyip Erdogan said the transfer of the main opposition party's 28% stake in Turkey's largest listed lender Isbank to the state would not be delayed, broadcaster NTV reported.

The proposed transfer of a 28% stake in Turkey's largest listed lender Isbank from the main opposition party to the Treasury was discussed at a meeting of President Tayyip Erdogan's AK Party this week, the Hurriyet website reported on Thursday.

Here are news, reports and events that may affect Turkish financial markets on Thursday.

Turkey's Halkbank said on Wednesday that U.S. charges against it amount to an escalation of Washington's sanctions on Ankara over its military incursion in Syria, while President Tayyip Erdogan called them an "unlawful, ugly" step.

Shares of Turkey's Halkbank plunged as much 7% on Wednesday, despite a ban on short selling, after U.S. prosecutors charged the state-owned lender with taking part in a multibillion-dollar scheme to evade U.S. sanctions on Iran.

Borsa Istanbul said it was temporarily prohibiting short selling in banking shares within the top BIST30 Index, effective from Wednesday, within the scope of a decision taken by its chief executive.

Three Turkish banks said on Thursday they had mandated Morgan Stanley <MSMSI.UL> as financial adviser for the sale of a special purpose vehicle (SPV) that holds a 55% stake in Turk Telekom <TTKOM.IS>, sending the company's shares up.

Turkey's Isbank reduced interest rates for housing loans, the lender said on Friday, after the central bank cut its key policy rate by 325 basis points this week.

Twelve Turkish banks will offer companies a total of 25 billion lira ($4.31 billion) as part of a Treasury-backed loan package, the banking association (TBB) said on Wednesday, in what would be Ankara's latest effort to boost the economy.

Turkey's Isbank decided on Friday to sell 130 million C class shares that it bought back last year by taking into account the relative improvement in economic conditions and efficient use of its capital.