Now it is banks’ turn to take stance against coup plotters: İşbank CEO

“Now it’s our turn to take responsibility, just as the media of all stripes played a key role in preventing the coup,” Adnan Bali told daily Hürriyet, adding that the media’s actions set an example for financial institutions. 

“Financial institutions should also present a stance that creates constructive solutions,” Bali said, vowing that the finance sector and the real sectors would collaborate. 

“We will try to use the opportunities that we have, until the end, for market and economy-friendly practices. We are strong enough as banks if our understanding is that way. I don’t want to exaggerate, but I call this an ‘economic mobilization’ upon the very serious political reflex that was shown. We’re all a part of this,” he added. 

Bali also stressed that the “normalization process” in Turkey cannot be abandoned and the country can emerge from the current situation and progress - if the process is managed well. 

“We will leave in the past the causes of disintegration. We have a state, a republic and a democracy to protect, and we will get down to business. We have all received education in this country and shared the prosperity of it. Now we will make self-sacrifices in the hard times. We have increased our welfare via the businesses that have been going well recently, now it’s time to share this country’s hardships,” he also added. 

Describing the prevention of the attempted coup as an “initial phase” in the name of “democracy and independence,” the İşbank general manager stressed that without financial support such a phase could not be made permanent. 

Bali also criticized S&P and Moody’s for their stance against Turkey after the failed coup attempt, saying their decisions were “politically motivated.”

“I’ve previously said that the note of a country should be protected. It can be decreased easily, but it’s hard to increase it. The rating institutions are not centered on objectivity. They are involved in economic politics. One of them starts evaluating and the other downgrades credits before it is even known what is happening, or what the decisions of the political authority and the economic precautions will be. Then it gives a negative outlook. I want to ask them: Have they evaluated the situation in Turkey by coming to the country?” he said. 

Stating that the decisions were made with “superficial” information, Bali added that the failed coup attempt had actually resulted in “unification” in Turkey rather than “disintegration.”