Ziraat Bankası and Halkbank respond to 'loss' allegations

Ziraat Bankası and Halkbank have denied allegations of losses that have been circulating in the press and on social media in recent days.

In a statement, Ziraat Bankası noted that it possesses strong financial indicators and that its financial statements are regularly presented to the public. 

The statement said, “It is not the case that our bank is incurring losses due to its operations; rather, it remains among the banks that generate profits at levels consistent with industry norms. Furthermore, as we operate as a joint-stock company, promotional and advertising expenses are a part of our budget. In the highly competitive banking sector, we continue these activities to promote our products and services.” It was emphasized that Ziraat Bankası will continue to contribute to the Turkish economy with its 160-year history.

HALKBANK ALSO DENIES

Halkbank similarly denied the loss allegations and stated that its financial statements are shared regularly. 

Halkbank stated, “It is clearly seen in our financial data that we have generated a net profit in every period. As the leading bank for SMEs, tradespeople, and artisans, promotional and advertising expenses are a part of our budget. We rank third in the sector in terms of total TL balance sheet size and second in terms of total TL loans. While we are diligent regarding austerity measures, advertising and promotional expenses are included in our operating expenses.”