November 28, 2022 07:42 GMT
Isbank Won’t Target 50% Lira Deposit Ratio
- Isbank won’t target lira deposits of at least 50% of total deposits, Nasil Bir Ekonomi reports, citing CEO Hakan Aran. “We won’t have such a target, because I don’t think it’s beneficial for the country,” Aran says, adding that lenders should be respectful of depositors’ choices. Note on Friday new regulation from the central bank boosted the FX reserve commission rate it receives from banks to 8% from 3% if a bank’s lira deposit ratio is below 50%. The new regulation aims to increase lira deposits in-line with the ‘liraization’ strategy.
- In a televised discussion programme recorded on Saturday, Erdogan said that he and Egypt President Abdel Fattah al-Sisi had spoken for around 30 to 45 minutes at that meeting on the sidelines of the World Cup in Qatar, Reuters report, saying that the process of building bilateral relations will start after years of tensions.
- Looking ahead this week, trade balance data is on the docket tomorrow where the deficit is expected to contract from a multi-decade high of $9.60bn prior to a deficit of $8.00bn. S&P Global PMI data crosses on Thursday. The prior print of 46.4 was the lowest since 2020.