BRSA Publishes the Annual Activity Report for the Year 2022

The Annual Activity Report for the Year 2022 has been published by the Banking Regulation and Supervision Agency ("BRSA") on May 30, 2023, on the official website of BRSA.

According to the mentioned Report:

• The total assets of the financial sector reached approximately 16.6 trillion Turkish Lira (approximately 886 billion US dollars) by the end of 2022. When considering the total assets of the financial sector, which is approximately 1.1 times the GDP, it is observed that the Turkish banking sector has the largest share with 86.56%.

• In 2022, the shares of banks, financial leasing companies, factoring companies, financing companies, savings finance companies, and asset management companies within the financial sector, which fall under the supervision and regulation of the BRSA, were 86.56%, 0.99%, 0.82%, 0.45%, 0.08%, and 0.05%, respectively.

• With a share of 88.95% and an asset size of 14.744 billion Turkish Lira, the BRSA is responsible for the supervision and regulation of the part of the financial sector, contributing to the enhancement of the reliability of the financial system and ensuring the efficiency of financial intermediation through the accurate and effective functioning of financial markets.

• In line with the transformation process related to the use of technology in the financial sector in recent years, the Medium-Term Program (2022-2024) published in the Official Gazette dated 05.09.2021 and numbered 31589 (Repeat) by the Ministry of Treasury and Finance and the Presidency of Strategy and Budget includes policy measures related to "Financial Stability," aiming to implement regulatory technologies and new inspection practices and methodologies centered around regulatory technologies.

• In the scope of banking supervision activities in 2022, a total of 1,230 reports were prepared on a bank-specific basis, including 32 bank supervision reports, 599 legal limits reports, and 599 monthly ratio reports.

• In 2022, establishment permits were granted to 2 investment banks, 1 (digital) deposit bank, 3 (digital) participation banks, 3 financing companies, and 2 asset management companies. Additionally, operating permits were issued to 2 investment banks, 4 financing companies, and 2 asset management companies whose adjustment requests were deemed appropriate. Furthermore, 7 valuation institutions were granted the authority to perform valuations for banks, and 1 payment and electronic money institution was authorized to operate as an organization that enters into agreements with member merchants.

You can access the full text of the mentioned Report from here.

Kind regards,

Zumbul Attorneys-at-Law

info@zumbul.av.tr