Fitch: Turkish Banks Still Vulnerable to Investor Sentiment

April 9, 2015 10:08 AM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Turkish Banks' External Debt: End-2014 Update here MOSCOW/LONDON, April 09 (Fitch) Banks' role as Turkey's largest external borrowers, with their debt the primary source of finance for the country's considerable current account deficit (CAD), leaves them vulnerable to sharp changes in investor sentiment, Fitch Ratings says.

A narrowing CAD, largely due to slacker credit growth and savings on oil imports, helped slow growth in Turkey's external debt, and that of the country's banks, in 2014. But the smaller increase in banks' external liabilities, which rose by USD17bn in 2014 compared to USD34bn in 2013, was partly als...

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