evo80

Member
How did 3 public banks lose 3.6 billion
How did TL 3.6 billion loss occur?

Turkey's pupil three public banks, was transferred to the Asset Fund. After the banks were connected to the Palace, their profits were melted at an extraordinary rate. Ziraat Bank and Halkbank were transferred TL 3.6 billion in return for duty losses. Treasury belonging to the nation; turned into a pool of pool contractors.
 
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IbrahimAbi

Grey wisdom
How did 3 public banks lose 3.6 billion
WRITERS

How did TL 3.6 billion loss occur?

Turkey's pupil three public banks, was transferred to the Asset Fund. After the banks were connected to the Palace, their profits were melted at an extraordinary rate. Ziraat Bank and Halkbank were transferred TL 3.6 billion in return for duty losses. Treasury belonging to the nation; turned into a pool of pool contractors.

Whatever you have been on today, can you send me some please?
 

Ken Grubb

Member
How did 3 public banks lose 3.6 billion
I just checked Sabah, Daily Sabah, Hurriyet and Hurriyet Daily News. I didn't see any story about this, has anyone seen any other news about it anywhere else?
 
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Kanga

Member
How did 3 public banks lose 3.6 billion
It's probably due to a write off of bad debt against crony companies.
Isn't garantibank part owned by a Spanish bank?
 

Camden

Member
How did 3 public banks lose 3.6 billion
I just checked Sabah, Daily Sabah, Hurriyet and Hurriyet Daily News. I didn't see any story about this, has anyone seen any other news about it anywhere else?

Ken unfortunately to get a grain of the truth it has to be from the few independent Govt critical newspapers like Cumhurriyet , Diken Ahaval in English etc

Same story as Enoch different paper.....
https://ahvalnews.com/turkey-banking/turkish-state-run-banks-see-surge-duty-losses-report

https://www.yeniasya.com.tr/ekonomi/kamu-bankalarinin-gorev-zararlari-3-6-milyar-tl-oldu_485193


The Sabah has always been a pro Govt mouthpiece owned by the Presidents family connections and the Hurriyet once independent owned by Dogan Group was sold after politically motivated "intimidation", to the Demirören Group known for its pro government stance. So unlikely to report the losses ......

https://www.reuters.com/article/us-...-of-hurriyet-newspaper-cnn-turk-idUSKBN1GX23R
 
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Ken Grubb

Member
How did 3 public banks lose 3.6 billion
Thanks Camden. When I first read the story (from the topic opener) the first part of it seemed to me it was saying 3.6 billion TL was lost during a banking transaction! A friend of mind is planning to move to Turkey and was asking me about moving his money to Turkish banks. I will send him the links to these news stories. Coincidentally, today I saw another new bank I'd never heard of.
 

bickern

Member
How did 3 public banks lose 3.6 billion
ong-forgotten bank accounts. They sure add up to hefty sums.

Approximately 627,885 bank accounts have gone untouched for 10 years in Turkey as of December 31, 2015 as these depositors have seem to have forgotten about TL 120 million ($41.27 million) awaiting to be withdrawn.

These inoperative accounts do not only belong to individuals, but also companies, associations, unions and even political parties.

While the highest forgotten account balance stands at $250,000, the lowest amount is less than a lira.

Furthermore, if the account owners cannot be found or the money is not claimed, then these deposits, funds and assets amounting to TL 120 million, including delay fines and those in various currencies, will be transferred to the Saving Deposit Insurance Fund (TMSF).

With millions of Turks missing out on their forgotten cash, banks have made the related announcements on their websites and thanks to the newly activated Banks Association of Turkey (TBB) site "www.zamanasimi.org/tbb" Turkish citizens can learn whether they have any forgotten accounts that will be considered 'abandoned' by May, 2016.

All beneficiaries who are on the 'unclaimed' lists by banks need to apply to their branch to reclaim their forgotten cash by June 15, 2016, at the latest, the TBB states.

According to Article 62 of Banking Code No. 5411, beneficiaries of deposits, participation funds, securities and assets who do not demand these amounts in 10 years lose their entitlements to their accounts.

On Dec. 31, 2014, TL 36.3 billion was forgotten in inoperative accounts and the number of accounts applied to the TMSF was around 299,429.

https://www.dailysabah.com/finance/...ed-in-turkish-banks-could-some-of-it-be-yours

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A bit of a dated report but I was not aware of this. So if an account goes inactive for 10 years then you loose it. Hmm!
 

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