Banking – Muhasebe News

World’s most valuable banking brands

MuhasebeNews — Mon, 04 Feb 2019 13:00:50 +0000

Business valuation consultancy company Brand Finance announced the world’s most valuable banking brands of 2019.

Chinese bank ICBC stays at the top with an increase of 35% in value, a total of $79.8 billion dollars.

The 9 Turkish Banks in top 500 fell back compared to the previous year.

Turkish bank Ziraat increased its brand value by 14%, making it 1.6 billion dollars and taking the 146th place.

Top 10 banks in the world are as follows;

1) ICBC – China

2) China Construction Bank – China

3) Agricultural Bank Of China – China

4) Bank of China – China

5) Wells Fargo – U.S

6) Bank of America – U.S

7) Citi – U.S

8) Chase – U.S

9) China Merchants Bank – China

10) HSBC – U.K

Click here for the full report.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

FED announces interest rate

MuhasebeNews — Thu, 31 Jan 2019 13:38:23 +0000

FED announced on Wednesday that it won’t increase the interest rates.

The interest rate will be kept at a range of 2.25% to 2.50%.

FED had been slowly increasing the interest rates since 2015.

FED Chair Jerome Powell stated that they need to act more carefully due to the recent events such as the economic slowdown in Europe and China.

Mr. Powell also said that they will be more patient with interest rates.

Macroeconomic Outlook and Monetary Policy in Turkey – 2018 October

MuhasebeNews — Wed, 31 Oct 2018 10:00:32 +0000

Macroeconomic Outlook and Monetary Policy in Turkey – 2018 October

Macroeconomic Outlook and Monetary Policy in Turkey

Murat Çetinkaya
Governor
October 2018 BALI, INDONESIA
2018 Annual Meeting of the IMF and the World Bank Group

Outline
 Macroeconomic Developments
 Inflation and Monetary Policy
 Overview

Macroeconomic
Developments

Global growthhas remained strongin the first halfof 2018.
(Annual % Change)

Global monetary policy normalizationis expected to
continue.
Policy Rate Changes and Year-end Policy Rate Expectations in Advanced Economies (Basis Points)*

Portfolio flowshaveweakenedin 2018…

Oil and commodityprices have trendedupwards.

Domestic economic activity has decelerated in the second quarter.

Contributionof net exportshas turnedpositive.

Recent data indicate a decelarationin economic activity.

Economic slowdownis domestic demand-driven.

Net exports continue to support economic activity.

External demandcontributes to export growth.

Real exchange rate is at historically low levels.

Recent data indicate a sharp improvement trend in external balance.

Current account deficitwill continueto narrow.

Tourismrevenues have posted a strong rebound.

External debt roll-over ratios have remained stable.

Inflation and Monetary Policy

CPI inflation and core indicators recordedsignificant increases.

Exchange rate depreciation has increasedinflationary pressures.

Demandconditions are expected to limit upside risks on inflation.

A strongmonetary tighteninghas been implemented to support price stability

Loan growth has continued to decelerate.

Overview

Overview
► Rebalancing in the economic activity has become more significant.
► External demand maintains its strength, while slowdown in domestic demand
accelerates.
► Deterioration in the pricing behavior poses upside risks on the inflation outlook, despite
weaker domestic demand conditions.
► A strong monetary tightening has been delivered to support price stability.
► The Central Bank will continue to use all available instruments in pursuit of the price
stability objective.

Macroeconomic Outlook and
Monetary Policy in Turkey
Murat Çetinkaya
Governor
October 2018 BALI, INDONESIA
2018 Annual Meeting of the IMF and the World Bank Group

Click to see the report and the data…>>>

Source: Central Bank of the Republic of Turkey

‘Euro Is Dead’: Marine Le Pen Calls for Return to French National Currency

MuhasebeNews — Sat, 02 Jun 2018 06:46:45 +0000

Euro Is Dead’: Marine Le Pen Calls for Return to French National Currency

French right-wing presidential candidate Marine Le Pen said Sunday that “euro is dead,” adding that France should return to the national currency

Euro is a “burden” for the French economy, the country needs to be able to control its national currency, Le Pen said in her interview with the Parisien newspaper. She stressed that she planned to gain the right to control the national currency, explaining that it would mean turning euro into the money that would only be used by “big companies engaged in international trade.”

If elected, Le Pen plans to hold the referendum on leaving the European Union in the first half of 2018 after negotiations with other EU member states. If elected, Le Pen plans to hold the referendum on leaving the European Union in the first half of 2018 after negotiations with other EU member states.

____________________________________________________________________

Source:express.co.uk
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

There is more than 125 thousand millionaire in Turkey.

MuhasebeNews — Fri, 20 Apr 2018 12:14:56 +0000

According to the data collected from banking regulation and supervision agency,

There are more than 108 thousand 864 hundred people in Turkey who have 1 million in their bank accounts in 2016 December, and total deposit money in Turkey is 715 billion 313 million Turkish Lira.

At the end of August 2017; there is 16 thousand 517 people more who have 1 million in Turkey and there is 125 thousand 381 people in total. Their total deposit money is 767 billion 721 million.

The millionaires deposit money within the same period is separated as follows: 395 billion 115 million is local currency, 369 billion is foreign currency, and 632 million is deposits and 2 billion 974 million is precious metal deposits account.

Average deposit is 6 million 123 thousand for each millionaire.

Depositor: The ones who invest money for interest.

Source: Fortune Turkey
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

J.P. Morgan Chase

MuhasebeNews — Thu, 21 Dec 2017 14:30:34 +0000

J.P. Morgan Chase ranks 21st in Fortune’s “Fortune 500” List.

From Fortune.com: “Despite CEO Jamie Dimon’s efforts to pare down the bank’s size, J.P. Morgan Chase is by far the biggest American bank by any measure, whether in terms of sales, stock market value or assets, which bounced back 6% last year to nearly $2.5 trillion. While J.P. Morgan has been a leader among banks in successfully navigating the stricter regulatory regime following the 2008 financial crisis, it has also been an outspoken critic of many of the new rules, with Dimon himself suggesting a reform roadmap for the Trump administration. As higher interest rates bolstered the bank’s position as one of the Fortune 500’s most profitable companies, J.P. Morgan stock returned nearly 35% in 2016.”

REVENUES ($M): $105,486 with a change of 4.4%
PROFITS ($M): $24,733.0 with a change of 1.2%
ASSETS ($M): $2,490,972
MKT VALUE AS OF 3/31/17: ($M) $313,761
EMPLOYEES: 243,355

CEO: James Dimon
CEO Title: Chairman, President & Chief Executive Officer
Sector: Financials
Industry: Commercial Banks
HQ Location: New York, NY
Website: www.jpmorganchase.com
Years on Fortune 500 List: 23
Employees: 243,355

Source: Fortune

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Bank of America Corp.

MuhasebeNews — Wed, 01 Nov 2017 10:00:59 +0000

Bank of America ranks as 26th in the Fortune list. According to Fortune: “Bank of America, with its enormous retail banking franchise, is one of the biggest winners from rising interest rates: The company recorded its most profitable year since the financial crisis in 2016, and its second biggest profit in the history of the company. (Bank of America has yet to surpass its 2006 record, in which it earned $21 billion.) And even the Federal Reserve’s modest rate hikes have had an outsized impact on the bottom line of Bank of America, which pockets the extra interest it collects on loans while paying out much less on consumers’ deposits (making money on the so-called spread). That’s a big reason why Bank of America grew profits nearly 13% last year even while sales were flat. Its stock also returned more than 33% for the year.”

Company Revenues ($M): $93,662 with the change of 0.7%

Profits ($M): $17,906.0 with the change of 12.7%

Assets ($M): $2,187,702

Mkt value as of 3/31/17 ($M): $236,182

Source: Fortune.com

International Cooperations

MuhasebeNews — Tue, 10 Oct 2017 11:00:06 +0000

Close cooperation is carried out with international organizations that perform studies on areas directly or indirectly linked to the Financial Market Infrastructures, like the Committee on Payments and Market Infrastructures (CPMI- As of 1 September 2014 the Committee on Payment and Settlement Systems-CPSS has changed its name to Committee on Payments and Market Infrastructures), World Bank, International Monetary Fund (IMF) and SWIFT Oversight Forum. Furthermore, various training and technical cooperation activities regarding payment systems area are being carried out with other countries’ central banks.

Relation with CPMI (CPSS)
CPMI (CPSS) is one of the committees within the Bank for International Settlements (BIS) and serves as a forum for central banks to follow the developments in both domestic and cross-border payment and settlement systems. Moreover, the CPMI (CPSS) cooperates with countries to prepare Redbook reports comprising assessments of the payment systems infrastructure in order to develop the payment systems infrastructure globally.

The CBRT became a member of the Committee on November 13, 2009. Three descriptive Redbooks, two of which were before the membership, has been prepared in cooperation with CPSS(CPMI) regarding the payment and securities settlement systems in Turkey in 2002, 2007 and 2012. Since the initiation of membership, Statistical Redbook reports are prepared every year regarding the last five years. Moreover, the CBRT is actively involved in several working groups of the CPMI (CPSS) and contributes to preparation of reports published by CPMI (CPSS).

Payment Systems Workshop
Further to these works, the Central Bank and the CPMI (CPSS) jointly hold Regional Payment Systems Workshops. The workshop aims to provide a platform for the central banks of the region to exchange views on the payment system reform process in their individual countries, on the role of the respective central banks in managing change in payment systems and on how developments in the region link with broader global trends.

The workshop has been organized annually since 2001 and delegates from about 20 central banks attend the workshop every year. The region of participating countries covers the Balkans, East Europe, North Africa, Middle East, and Central Asia.

Training and Technical Cooperation Activities
Various training programs are provided and technical cooperation activities are carried out by the CBRT regarding the payment systems area via both Istanbul School of Central Banking and bilateral links with other countries’ central banks

Date: 13 March 2017

VakıfBank exchanged Basel II compliant notes amounting USD 22 million

MuhasebeNews — Tue, 10 Oct 2017 09:00:04 +0000

VakıfBank exchanged a part of Basel II-compliant notes amounting around USD 228 million to Basel III-compliant notes by adding its leading and innovative Turkish Bank image in the international debt capital markets. Coupon rate of the notes having a maturity of November 2027 and a call option in November 2022 has been set at 8%.

50 bps positive impact on CAR

Expressing his gratitude regarding the successful completion of the exchange process of Basel II compliant notes issued in 2012 to Basel III-compliant notes, VakıfBank’s CEO Mr. Halil Aydogan said “I consider this transaction as significant in two ways. First of all, VakıfBank broke a new ground again in the Banking sector with this exchange transaction. In compliance with the amendments in capital legislation of our country and foreign applications, we lengthen a part of Basel II-compliant notes’ maturity to November 2027 and also make them Basel III-compliant. Additionally, we strengthen our capital base through the exchange transaction in a more cost-effective way compared to a new bond issuance. I have to notify that the exchange has a 50 bps positive impact on our YE 2016 Capital Adequacy Ratio. We will continue to support real sector, especially the blue-chip projects with our long term foreign funds and strengthening capital base.

Source: vakifbank.com.tr

EUR 100 million EIB-led loan to VakıfBank

MuhasebeNews — Tue, 10 Oct 2017 06:00:48 +0000

VakıfBank signed the guarantee protocol with Turkish Treasury for the first tranche of the EIB loan amounting EUR 300 million as EUR 100 million to be onlent to the SMEs and MidCaps.

“The highest loan limit set by EIB in a lump”

Notifying that under the guarantee of Turkish Treasury, EIB fund of EUR 400 million in total has been provided for the use of SMEs and MidCaps since 2012, VakıfBank’s CEO Mr. Halil Aydogan said “In order to continue the success in projects originated for the SMEs and MidCaps, EIB set a new loan limit to our Bank, amounting EUR 300 million in a lump, the highest limit ever, which is very important for VakıfBank. Today, we signed the guarantee protocol with Turkish Treasury for the first tranche of the loan amounting EUR 100 million. The loan has total 8 years maturity with first 3 years grace period. I extend my special thanks to both the representatives of EIB and Turkish Treasury for the loan and the support.”

“Since 2012, the loan amount received from EIB and on-lent to SMEs and MidCaps will reach EUR 700 million”

VakıfBank’s CEO, Mr. Halil Aydogan ended his speech “Since 2012, EIB-led loan amount allocated only under the aforesaid program will reach EUR 700 million with the disbursement of the total fund amounting EUR 300 million. We are extremely gratified that the loan amounts from EIB increased, the loans are diversified and they are made available for the use of real economy. Our mission of supporting our economy by providing long term and cost-effective foreign funds will increasingly continue in the upcoming periods.”

Source: vakifbank.com.tr