Banking & Finance Turkey’s central bank approves 2022 dividend payout By Reuters March 29, 2023 REUTERS/Osman Orsal Turkish central bank has committed to donate 30 billion lira from its profits for areas impacted by the earthquake Turkey’s central bank decided to pay dividends from its 2022 accounting period to shareholders, including the treasury, it announced on Tuesday at its annual general meeting. The central bank profit stood at 72.02 billion lira ($3.77 billion), according to the country’s official gazette. Economists expect the central bank to transfer some 40 billion lira to treasury after its donation for the earthquake. Turkish central bank has committed to donate 30 billion lira from its profits for areas impacted by the earthquake which killed more than 50,000 people and destroyed hundreds of thousands of buildings in the southeast. In December 2022, Reuters reported that several big Turkish banks wanted to issue dividends to shareholders after posting record profits in 2022 and the country’s BDDK banking watchdog was considering the request. Each year the BDDK makes recommendations regarding banks’ profit distribution. In 2021, dividends were up to 10 percent of lenders’ net profits, and in previous years the BDDK made recommendations for profits to be added to capital.
