15-question parliamentary inquiry to Şimşek regarding Tera Bank

Ankara MP Murat Emir has brought the banking dimension of the investigation into the Tera Group's funds to the parliamentary agenda. In a 15-question parliamentary inquiry submitted to the Speaker of the Grand National Assembly of Turkey (TBMM) for Minister of Treasury and Finance Mehmet Şimşek to answer, Emir questioned the source of the rapid increase in Tera Yatırım Bankası's assets, its credit portfolio, funding structure, and related-party transactions.

The inquiry highlights the question of whether the growth observed in the bank's financial statements has been examined by regulatory bodies following the process that resulted in the Capital Markets Board (SPK) issuing a liquidation decision for the relevant funds on September 17, 2026.

According to Public Disclosure Platform (KAP) data cited by Emir, Tera Bank's total assets rose to 550.9 million TL at the end of 2023, 2.63 billion TL at the end of 2024, 27.78 billion TL at the end of 2025, and 71.72 billion TL by the end of June 2026. Accordingly, the bank's assets increased approximately 27-fold from the end of 2024 to the end of June 2026; the growth rate in the first six months of 2026 alone was 158.2 percent.

CREDIT PORTFOLIO AND FUNDING QUESTIONED

The inquiry stated that the "financial assets measured at amortized cost" item, where loans extended to customers are tracked, rose from 17.57 billion TL at the end of 2025 to 30.13 billion TL at the end of June 2026. Emir requested an explanation of the sources used by the bank, which does not have the authority to collect deposits, to fund this credit volume.

Murat Emir requested information regarding the buyer and counterparty profile of the 22.09 billion TL in securities and 14.87 billion TL in money market debts issued by the bank. Whether loans were transferred to individuals and companies connected to the Tera Group, whether they were used to purchase group funds, and the nature of the collateral structure were also among the topics in the inquiry.

Emir also requested clarification on the source of the bank's "financial assets measured at fair value through profit or loss" item, which rose from 4.83 billion TL at the end of 2025 to 32.12 billion TL at the end of June 2026. The inquiry also questioned the nature of the 6.61 billion TL in commercial profit, 6.58 billion TL in net period profit, and the deferred tax liability that rose to 1.92 billion TL.

Drawing attention to credit limits, Emir stated that Tera Bank's equity as of the end of June 2026 was 14.24 billion TL, and 25 percent of this corresponds to approximately 3.56 billion TL. Emir asked whether the Banking Regulation and Supervision Agency (BDDK) had examined whether the limits in the Banking Law were exceeded based on the 30.13 billion TL credit amount.

The inquiry also brought up the fact that JCR Eurasia Rating downgraded Tera Bank's long-term national institution credit rating from "A- (tr)" to "CC (tr)" on September 23, 2026. Emir asked whether a special audit had been initiated by the BDDK following the rating downgrade and whether the funds for which the SPK issued a liquidation decision posed a liquidity risk for the bank.

Finally, Emir requested an explanation of whether the credit-funding mechanism in the inquiry was being evaluated within the scope of Article 160 of the Banking Law regarding qualified embezzlement and Article 107 of the Capital Markets Law regarding market fraud. Whether a criminal complaint had been filed with the Chief Public Prosecutor's Office by the BDDK or the SPK was also among the questions directed to Minister Şimşek.