Earthquake fears prompt banks to act

The bank also made progress in its emergency planning following the major earthquakes that struck the provinces of Kahramanmaraş, Hatay, Adıyaman and Malatya.

According to US financial institution Bloomberg, Turkish banking giants have begun transferring much of their data and personnel to their offices in the capital Ankara.

In addition to Denizbank, Garanti BBVA, QNB Finansbank and Turkey Industrial Development Bank (TSKB) have also begun to develop various backup plans.

Ankara Bank’s backup plan

Denizbank Istanbul management has asked for staffing in all departments in Ankara, according to one source, while another said the bank plans to encourage all those who want to move to the capital.

The bank said it was building a smaller version of its headquarters in Istanbul. In response to questions, the bank said its goal was to “ensure that banking services continue uninterrupted after an earthquake that could affect Istanbul.”

QNB Finansbank also announced that it will provide support to the head office team in Ankara and ensure that all branches and bank buildings are earthquake-resistant.

TSKB moved some of its employees to rented office space in Ankara. “As TSKB, our goal is to be logistically close to the Anatolian region, where 11 cities were shaken by the earthquake of February 6, 2023, to speed up the access of our companies operating in the region,” the bank said in a briefing on the subject. “We opened the Ankara office to expand our reach and ensure business continuity of our bank,” he said.

In the bank’s statement, “As TSKB, we have taken all actions, such as ensuring that the Ankara office is staffed with the necessary personnel and backing up our data centers. We are constantly updating the investments and measures taken for this purpose, taking into account the technological requirements.”

Garanti BBVA also said it had relocated its data center and part of its headquarters. The bank said in a briefing on the issue that it ensured that “some suppliers, facilities and human resources are supported outside the earthquake zone.”

Central banks also take action

The central bank is reportedly calling some of its staff back to Ankara even as it builds a new building in Istanbul’s financial center, a source familiar with the plan said, in an effort to keep operations going in the event of an earthquake.