HomeTechTurkey's Akbank to invest $200 mln in technology, CEO says

Turkey’s Akbank to invest $200 mln in technology, CEO says

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Turkey’s Akbank <AKBNK.IS> will invest $200 million in technology in 2024, Chief Executive Officer Kaan Gur told a news conference on Tuesday.

Gur said a budget of $600 million had been earmarked for technology investment in the next three years.

Changes to regulations in early February had eased cost pressures for banks and this will increase the appetite for loans somewhat, he said.

A portion of the loan requests that are being made had started to switch from Turkish lira to foreign currency, he said.

He added that a level had been reached in interest rates that will support conversions from FX-protected accounts (KKM) to Turkish lira ones.

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