Turkey Sets 15% Cap on Bank Dividends After Record Profit Year

Turkey’s banking regulator decided to allow commercial lenders to pay as much as 15% of their record 2023 net income as cash dividends, according to people with knowledge of the matter.

The regulator, known by its Turkish initials BDDK, set the cap after banks submitted their requests for 2023 profit distribution, the people said, asking not to be identified because discussions are private.