CHP asks why state-run banks’ board meetings postponed after referendum

The main opposition Republican People’s Party (CHP) has questioned why all general board meetings of Turkey’s state-run lenders have been postponed until after the referendum, speculating that the government may be “afraid of something in their balance sheets.” 

In a response, Vakıfbank and Halkbank stated that the postponements were made in line with the law, adding that independent audit reports show there is nothing wrong with their financial results.  

Selin Sayek Böke, the CHP’s spokesperson and vice chair responsible for economic policy, said the banks should have had their general assembly meetings before March 31, but two of them postponed these meetings and one had made no announcement.

In a written announcement on the CHP’s website on March 27, Böke said the general board meetings of Halkbank and Vakıfbank were postponed to May 4 “by disregarding the law” and “without voicing any solid reason.” She also said no announcement had been made by Ziraat Bank about a meeting, although there are just days until the end of March. 

Böke asked whether there is “something that the government is afraid of in the lenders’ balance sheets” and “why these meetings have been postponed.” 

Vakıfbank said the postponement decision was taken on the request of the lender’s main shareholder, adding that there is no problem with its balance sheets and saying it lender would soon post “successful financial results.” 

Halkbank said its postponement decision was announced correctly on March 20-22 in the required outlets and to the stock exchange. It also stressed that its 2016 performance was above the sector average in terms of assets, loans, deposits and profitability.