Turkish banking sector NPLs at 4.0% at end-January

ISTANBUL: The Turkish banking sector’s non-performing loans ratio stood at 4.03 per cent at the end of January, up from 2.94 per cent a year earlier, data from Turkey’s banking watchdog showed on Friday. While its net profit decreased 29.4 per cent year-on-year to 3.2 billion lira ($597.99 million), it said. The sector’s loans grew […]

Turkish central bank seen holding rates until June

ANKARA: Turkey’s central bank is seen keeping its policy rate unchanged at 24 per cent next week, a Reuters poll showed on Friday, with economists expecting it to start easing in June and to cut by a total 500 basis points by year-end. The central bank hiked its policy rate by 11.25 percentage points in […]

Shell says it faces Dutch prosecution over Nigeria licence

London. Royal Dutch Shell Plc is facing prosecution in the Netherlands over a license in Nigeria, intensifying its legal troubles from a transaction that has dogged the company for years. “We have been informed by the Dutch Public Prosecutor’s Office that they are nearing the conclusion of their investigation and are preparing to prosecute,” The […]