Turkey's regulator cancels Bank Mellat's Istanbul branch licence
Turkey's Banking Regulation and Supervision Agency has withdrawn the operating licence of Bank Mellat’s main Istanbul branch, citing risks to depositors and financial stability.
The Banking Regulation and Supervision Agency (BDDK) announced the revocation of Bank Mellat’s Istanbul main branch licence, a decision published in the Official Gazette on September 19. The board acted under Article 71(1)(b) of Banking Law No. 5411, which permits licence removal when a bank’s activities threaten depositor rights or system confidence. Bank Mellat, based in Tehran, has been present in Turkey since 1982, later adding branches in Ankara and İzmir. The regulator said the move aims to protect participants and maintain stability in the Turkish financial sector.
Why it matters
The licence revocation could affect cross-border trade financing and signals tighter oversight of foreign banks in Turkey.
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