Turkish Banking System - Turkish Banking System ECON 311...

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Turkish Banking System Turkish Banking System ECON 311 Elif AKBOSTANCI
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E. Akbostancı ECON 311 2 I. Depository Institutions I. Depository Institutions 1. State Banks: a. State banks serving specific goals and carrying commercial banking activity: T.C. Ziraat Bankası. Founded in 1888, the bank is designed to provide subsidized credit to the agricultural sector. In 1924 it was restructured as a corporation. Due to difficulties involved in distribution of its capital to the share-holders in 1937 it was declared as an independent public institution. Türkiye Halk Bankası. Provides subsidized credit to the artizans and self employed. Türkiye Vakıflar Bankası. Established in 1954, deals with real estate and securities of vakıf’s.
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E. Akbostancı ECON 311 3 State banks historically are assigned duties which caused the problem of duty losses towards the end of the 90’s. With 2000-2001 stabilization programs , duties assigned to Ziraat Bankası and Halk Bankası were reconsidered. Amendments introduced to the current laws prohibited these banks from extending credit below cost and government would no longer be able to assign “duty losses” to these banks.
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E. Akbostancı ECON 311 4 a. State banks that carry out commercial banking as well as industrial activity: Sümerbank carried industrial activity in the textiles sector, privatized in 1995. Etibank carried industrial activity in the mining sector, privatized in 1997. Currently there are no banks remained in this category.
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E. Akbostancı ECON 311 5 1. Private Banks: Major shareholders of these banks are the private sector. Most of these banks are holding companies. All banks established in 1923-1944 period were owned by the state. The number of private banks showed a rapid increase in 1944- 1975 period.
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ECON 311 6 T. İş Bankası was the first private bank, which was founded in 1924. Initially its capital was partly state owned and partly private owned. Treasury’s share in its capital was gradually reduced to zero. Currently % 46 of its shares are in the hands of İş Bankası Munzam Sandığı which belongs to the employees, % 28 belong to CHP, and % 26 to the public. Currently there are 14 banks operating under this
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This note was uploaded on 05/26/2010 for the course ECON 311 taught by Professor Elif during the Spring '10 term at Middle East Technical University.

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Turkish Banking System - Turkish Banking System ECON 311...

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