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6.1.3 Banks news
Garanti BBVA (GARAN) completed a USD/TRY option transaction with Bank of America (New York/BAC). The transaction is billed as Garanti’s first derivative transaction linked to environmental, social and governance (ESG) criteria.
Recently, Turkish banks, including Garanti, have also announced ESG-linked repo deals.
The Turkish insurance industry is in trouble with high inflation.
38 TURKEY Country Report July 2022 www.intellinews.com
