The bank’s shares were down more than 5 percent in the early trading.
“The bank has taken this decision to protect itself from the possible impact of expected increase of Non-Permorming Loans in the upcoming period, due to the depreciation of lira and slowdown in economy,” said Bülent Şengönül, equity research manager at İş Investment.
The bank reported a capital adequacy ratio of 18.48 percent, above the required legal limit, and an NPL ratio of 3.3 percent in its third-quarter financial results.
The lira slumped in August, at one stage falling as much as 47 percent from its level at the start of the year. It has since recovered some ground but economists are worried about the impact on companies and banks.