Ebru Tuncay

Turkey’s TAV Airports <a href=“https://www.reuters.com/companies/TAVHL.IS/“target=“_blank”>(TAVHL.IS)</a> is in talks with banks to refinance the debt of its Izmir Airport, which is worth around 200 million euros ($211 million), sources told Reuters.

Turkey’s Kalyon Holding is in advanced stages of talks with Abu Dhabi’s International Holding Company on setting up a strategic partnership for energy assets, according to people familiar with the issue.

Turkish state banks are acting to limit consumer loan growth, notably mortgages, while loan and deposit rates have begun to rise sharply due to rising demand for cheap loans and the cost-boosting effect of steps taken by authorities, bankers said.

Turkey’s central bank is expected to take steps soon to bring lending costs closer to its newly cut policy rate, especially for some corporate loans, three bankers told Reuters, after the bank said spreads between the two rates had widened.

Some Turkish banks are curtailing corporate lending after the government’s latest raft of regulations raised their costs and forced many to cut their balance sheet risks, five banking and private sector sources told Reuters.

Turkish Finance Minister Nureddin Nebati has met several bank executives and the BDDK financial watchdog to discuss, in part, long-term bond holdings, two banking sources and the ministry said on Tuesday.

A spokesperson for Facebook-parent Meta Platforms Inc <a href=“https://www.reuters.com/companies/META.O/“target=“_blank”>(META.O)</a> said on Wednesday that they did not agree with the findings of Turkish competition authority, after it fined the company 346.7 million lira ($18.64 million).

Several big Turkish banks want to issue dividends to shareholders after posting record profits in 2022 and the country’s BDDK banking watchdog is considering the request, three banking sources familiar with the issue said.

An expected capital increase will help Turkey’s Ziraat Bank to spearhead President Tayyip Erdogan’s drive to boost economic growth and tackle chronic current account deficits this year, the head of the country’s largest lender told Reuters.

Turkey is expected to take more policy steps to cool stubbornly high inflation after this month’s local elections, setting the stage for more pain for Turks already struggling after years of soaring prices, according to data and some economists.