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Ebru Tuncay

Eye on lira, Turkey abandons plan to tap central bank reserves

May 17 2019

ANKARA/ISTANBUL Turkey took more unorthodox steps on Friday to protect its beleaguered lira, including scrapping a recently-hatched plan to tap the central bank's legal reserves to boost its budget and urging banks to encourage clients to convert foreign holdings.

Exclusive: Turkey presses banks to agree high-stakes bailout of bad energy loans

May 13 2019

ISTANBUL Turkey's plan to clean up some $13 billion in bad energy loans, one of the worst hangovers from last year's currency crisis, is taking shape even as some banks hold out for the government to agree to safeguards and higher electricity prices.

UPDATE 1-Turkish banks in no rush to sell problem loans, focused on restructurings -sources

May 10 2019

ISTANBUL, May 10 Turkish banks told foreign investors they were in no rush to sell problem loans on their books, and were focused on restructuring them, three people present at a meeting discussing bad debt on Thursday in Istanbul told Reuters.

REFILE-Goldman, Bain, EBRD meet Turkish banks about problem loans -sources

May 09 2019

ISTANBUL, May 9 Goldman Sachs, Bain Capital and the European Bank for Reconstruction and Development met on Thursday with Turkish bankers and investors, three sources told Reuters, as Turkey works to pare down its balance of problematic loans.

As Turkish lira skids, Yapi Kredi raises commercial loan rates

Apr 29 2019

ISTANBUL, April 29 Turkish bank Yapi Kredi hiked rates on commercial loans on Monday by about 4 percentage points, the clearest sign yet that higher costs from a tumbling lira are reversing months of pressure from a government regulator to keep a lid on borrowing costs.

Goldman Sachs in talks to buy restructured Turkish loans: sources

Apr 24 2019

ISTANBUL Goldman Sachs is in talks with Turkish banks and companies to buy large distressed loans following a wave of corporate restructurings in the country last year, two sources close to the matter told Reuters.

Turkey's Halkbank to boost capital with new debt and borrowing

Apr 17 2019

ISTANBUL, April 17 Turkey's Halkbank will issue debt instruments and borrow in domestic and foreign markets to strengthen its capital base, which was left thinner after the lender provided low-interest loans in the wake of last year's currency crisis.

Turkish court acquits HSBC Turkey CEO of insulting President Erdogan

Apr 11 2019

ISTANBUL A Turkish court on Thursday acquitted HSBC Turkey chief executive Selim Kervanci of a charge of insulting President Tayyip Erdogan by retweeting a video on social media at the time of nationwide protests in 2013.

UPDATE 1-Turkey's Credit Guarantee Fund to end new applications - banking sources

Mar 28 2019

ISTANBUL, March 28 Turkey's Treasury-backed Credit Guarantee Fund (KGF), designed to stimulate the economy by guaranteeing loans to small- and medium-sized firms, will halt new applications from Friday, according to banking sources and a KGF email seen by Reuters.

Turkey to shore up lira via tight supply through elections - sources

Mar 27 2019

ANKARA/ISTANBUL Turkey will keep directing its banks to withhold lira liquidity from a key foreign market at least until after local elections on Sunday, sources said, as the government intensifies efforts to defend the currency, which plunged last week.

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