The Capital Markets Board (SPK), the Banking Regulation and Supervision Agency (BDDK) and the Banks Association of Turkey (TBB) made simultaneous statements regarding the allegations against the banking sector and capital markets that have recently appeared in some media and social media.
EXPLANATION OF CMB
In the written statement made by the CMB, it was stated that some media organs and social media made baseless statements about the companies traded in the Borsa Istanbul share market, which are not based on any information and documents, do not reflect the truth. In the statement, it was stated that the capital market, which is fully integrated with international markets, operates in a reliable, transparent, stable, fair and competitive environment. “Protecting the rights and interests of investors is our top priority. Transactions carried out in Borsa İstanbul are monitored instantly by our Board and Borsa İstanbul. In case of detection of market disrupting transactions and actions, as well as statements that will disrupt the safe and stable functioning of the capital market, within the framework of the provisions of the Capital Markets Law. Penal and administrative sanctions will be imposed on those responsible by our Board.”
EXPLANATION OF BRSA
In a written statement shared on the BRSA’s social media account, “The statements made about our banks in some media and social media, which are not based on any document or information, do not reflect the truth. It is important to announce to the public that it should be known that it constitutes a legal entity and that necessary legal actions will be taken against those who make and disseminate these statements. expressions were used. In the statement, it was noted that the banks and the sector continue on their way with strong and solid liquidity and financial ratios under the supervision and control of the BRSA, as they did yesterday.
EXPLANATION OF TBB
In the written statement made by the TBB, it was stated that the banking sector in Turkey has a high liquidity, asset quality and capital adequacy and said, “As of 17 May 2023, the sector has 427 billion TL liquid assets and 110 billion dollars foreign currency liquid assets. The liquidity ratio is 160 percent. “It is at the level of international averages, similar to other indicators. The banking sector is strong enough to meet all its obligations,” it said.
“The sector believes in the strength of the Turkish economy, draws its strength from the economy, and supports the economy with a healthy balance sheet,” the statement said. Maintaining trust in the banking sector should be our duty and responsibility. In the statement, it was noted that; “It is of great importance that banking matters are kept above politics. Therefore, speculative statements that do not reflect the truth that may harm the reliability of the sector should never be respected. We thank our customers for their trust in the sector.”
EXPLANATION FROM THE MINISTER NEBATI
Treasury and Finance Minister Nureddin Nebati made a statement on the sector by quoting the shares of the Banking Regulation and Supervision Agency (BDDK) and the Capital Markets Board (SPK) on his Twitter account. Reminding that they took over a wreckage where the overnight interest rates reached 7500 percent and people lost their lives due to the bankrupt bank crises, Nebati emphasized that thanks to the strong economic infrastructure and banking system they established in 21 years, they came out of many troubles stronger.
“BANKING INDUSTRY INVISIBLE ITS POWER”
Minister Nebati pointed out that in the 2008 global financial crisis, while many big banks in the world were failing, the country’s economy and banking sector continued on their way with strong steps and said, “Despite the economic crisis that shook even developed countries due to the corona epidemic, we continued our growth with the contribution of our banking sector and quickly compensated for the loss in employment. Our banking sector, which has faced all critical processes, including the earthquake, the disaster of the last century, and put its hand under the responsibility, has unequivocally demonstrated its strength in these processes.” made its assessment.
“THE GREAT HISTORICAL ACHIEVEMENTS OF OUR ECONOMY AND BANKING SECTOR ARE CLEAR”
Pointing out that the banking sector in Turkey has not experienced even the slightest shock despite bankruptcies in America and Europe in the recent period, Nebati noted that the sector has crowned its strength. “What kind of a sick mood is it when our economy and banking sector are making a fuss as if there is a crisis and trying to bring Turkey down, while the great achievements of our economy and banking sector are evident? It does not take into account the high performance it has shown until today, and tries to gather votes through doomsaying with uncertain assumptions. What is done is plain lying, slander, hostility to the nation. Those who are refugees in their own country, those who look down on this nation, poor people who do not know how to account, how many years the economy has been hitting the wall. They keep touting. They can’t get enough of being humiliated all the time, but we’re tired of being embarrassed for them all the time.”