No ‘unusual developments’ in Turkey’s banking sector: Association

No ‘unusual developments’ in Turkey’s banking sector: Association

ISTANBUL
There have been no “unusual developments” in Turkey’s banking sector and banks did not appear to need the Central Bank’s measures, the head of the Banks’ Association of Turkey (TBB) told broadcaster Bloomberg HT on July 18.

Banks were also not seeing a “serious rise” in the cost of foreign lending, said TBB head Hüseyin Aydın. 

“Investors who know Turkey understand that this is a temporary situation,” he noted. 

Over the weekend, the Central Bank said it would provide Turkey’s banks with unlimited liquidity, a measure designed to ensure their financial stability after a failed coup attempt on July 15.

“Until now, we have not needed to apply any measures on which we had earlier agreed in the meeting with the Central Bank. We have been functioning on our own means,” said Aydın. 

“We do not want any gray areas in our sector and we support all measures to increase savings,” he added.
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