Report title: Turkish Banking Sector: Annual Review and Outlook
from Fitch Research
12 page (16174 word) report published Nov 18, 2008

Price $275.00 available for immediate download
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...Turkey faces a challenging near\01term macroeconomic and financial o utlook. The country s relatively large current account deficit and external financing mark it out as relatively exposed to the global credit crunch, as they will be more difficult to finance, though lower commodity prices will help. Real GDP growth is likely to slow markedly in 2009. Despite this, the banking system is better positioned to meet these challenges than for the previous downturn. Turkish banks do not have any exposure to US subprime mortgages or other complex structured assets, and loan quality appears to be holding up well. Commercial banks impaired loan ratio was 3.1% at end\01H108. Major banks have access to strong core deposit franchises and the dependence on international funding by smaller institutions is not significant. There have been no marked liquidity squeezes in the system. The net open FX position for the system was also very low,...

Report Type: Special Report
Company(ies): National Bank of Greece S.A., EFG Eurobank Ergasias S.A., The National Commercial Bank, Citigroup Inc., Arab Banking Corporation /(Jordan), ING Bank N.V.
Ticker(s): ETE , EUROB , ABCO , C
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