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Turkish banks should explain the sharp increase in their non-interest revenues over the last decade, Trade and Customs Minister Hayati Yazıcı said yesterday, calling on lenders not to implement fees at an exploitative level.
“The banks have 31 revenue sources apart from interest rate incomes, some of which are unfair,” Yazıcı said at a breakfast hosted by the ministry in Istanbul. Such revenues constitute up to as much as 13 percent of the lenders’ revenues today, up from a mere 3 percent 10 years ago, the minister said. “They should have a justification for this,” he said, Hurriyet Daily News report.
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