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The Central Bank broke a new record in the last 3 years, breaking a record with a profit of 163 billion TL.
According to the balance of the Central Bank of the last 20 years; In the period spanning 2000-2017, the bank’s pre-average annual profit was at the level of 5 billion TL, while this ratio has multiplied by 10 in the last 3 years covering the period 2018-2020. The period that started with 5 million TL ended with 54 million Turkish lira.
The bank’s profits increased significantly during the term of the former Minister of Finance and Finance, Berat Albayrak.
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Net profit, which was TL 18.4 billion in 2017, increased by 206 percent in 2018, which was Albayrak’s first year of service, to TL 56.3 billion and TL 44.7 billion. lira in 2019. In 2020, the pre-tax profit forecast was TL 40 billion.
In the last 20-year period spanning the years 2000 to 2020, the Central Bank of the Republic of Turkey has achieved a pre-tax profit of £ 259 billion. 63 percent of this profit has been achieved in the last 3 years.
IS IT POSSIBLE TO EVAPORATE RESERVES OF 128 BILLION DOLLARS?
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The political agenda has been locked in the Central Bank’s reserve debate in recent days. It was on the agenda with the CHP’s accusations against the former Minister of Finance and Finance, Berat Albayrak. Did the Central Bank sell 128 billion dollars or not? As you will recall, President Erdogan denied allegations that the Central Bank’s foreign exchange reserves were negative, with the words “Külliyen is a lie.”
Well, the Central Bank had 128 billion dollars, did this money really evaporate? Economics experts attending the CNN Türk live broadcast, Istanbul University faculty member Prof. Dr. Sefer Şener and strategist Cüneyt Paksoy said that such evaporation is not possible.
“THE CENTRAL BANK RESPONDS ACCORDING TO NATIONAL AND FOREIGN DEMAND”
The headlines of strategist Cüneyt Paksoy’s statements are as follows:
“All central banks maintain reserves except their own currencies. The reserve currency in the world is dollars, the price of many things, especially raw materials, is made in dollars. When demand is intense, the central bank responds to that demand. This is internal demand, this is external demand. Central bank reserves are a criterion for credit institutions. Therefore, reserves accumulate to be used. They are used when it is necessary to use them. The Central Bank writes a formation of earnings with price movements Proactively balanced with the Ministry of Finance The main objective is not the profit of the Central Bank The Central Bank seeks a stabilization The Central Bank responds according to internal and external demand.
“THE CHANGE OF APPEARANCE IS INVOLUCABLE, WE DESERVE MORE”
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During the pandemic, countries took steps to keep production motivation strong. Many countries ended in recession. These figures are seen in the country reports. Turkey has experienced a shift in turnover cost inflation. We also experienced a normalization of policy at the Central Bank. The latest figures will arrive on March 1. Turkey will end with growth. The change in appearance is inevitable. We deserve more, but the market will show its price. The foreign influx will increase with the Central Bank, BRSA and the market players. The policy of the credit rating agencies will change. There are risks on a global scale. Turkey will proactively advance to the drop to 5 percent. Increased competition between the US and China will begin to increase Turkey’s importance on the map.
The headlines of strategist Cüneyt Paksoy’s statements are as follows:
International rating agencies give you a score that will impress you. In fact, this cycle complements itself. CDS is falling.
Risk premium of CDS countries. Invest in these countries and don’t. The higher it is, the safer the country will be and investments can be made. Turkey’s June and July points from credit rating agencies advance one step.
“THE GROWTH FORECAST HAS BEEN INCREASED TO 6 POINTS FROM 4 POINTS”
The pandemic process is slowly ending. Fitch says it looks at the positive steps taken by Turkey. This process, which Turkey is trying to adapt quickly to grow faster. Growth in Turkey is predicted to have increased from 4 points to 6 points. In the next period, important stages will pass in terms of growth in terms of inflation. Turkey is a major player in the supply chain. We will be much stronger with bond increases. In particular, foreign rating agencies say inflation will return to single digits.
WHAT DO CREDIT RATING AGENCIES LOOK FOR?
Teacher. Dr. Sefer Şener’s explanations:
Credit rating agencies analyze the 3 points that matter most. They look at the macroeconomic dynamics. They make evaluations from political points that we call political economy. After evaluating them, they examine the CDS. Credit rating agencies will raise Turkey’s rating to one notch. The pandemic process is slowly ending. Turkey stands out positively. Turkey will move faster in the next period. Turkey will grow faster in readings. We will see that all international organizations will increase their rating.
MORE THAN 18 YEARS IN 3 YEARS
During the Berat Albayrak period, the Central Bank made a total profit of TL 163 billion. In the 18-year period before 2018, the total profit was only TL 96 billion.
On the other hand, Albayrak appointed president of the Central Bank of the Republic of Turkey during Murat Uysal’s term of office also meant a significant increase in profits. The Central Bank, as financial institutions, demonstrated that Turkey’s performance on the one hand while becoming a contributor, the deepening of the crisis has impeded on the other hand, with dividend payments made to the Treasury.
13-FLOOR DIFFERENCE WITH ALI BABACAN
During Albayrak’s tenure, there was a significant increase in the Central Bank’s profits. Net profit, which was TL 18.4 billion in 2017, increased by 206 percent in 2018, which was Albayrak’s first year of service, to TL 56.3 billion. Protect yourself against attacks Turkey’s currency reached a net profit of 44.7 billion lira in 2019.
The Central Bank’s pre-tax profit forecast for 2020 is TL 40 billion. In the 3-year period, the bank’s average annual net profit increased more than 13 times compared to Ali Babacan’s period. During the head of Babacan’s economy, the average annual net profit was 3.5 billion lira.
In the last 20-year period spanning the years 2000 to 2020, the Central Bank of the Republic of Turkey has achieved a pre-tax profit of £ 259 billion. 63 percent of this benefit, that is, more than half, was obtained during Berat Albayrak.
